Brightcove Inc. (NASDAQ:BCOV) Short Interest Down 5.4% in May

Brightcove Inc. (NASDAQ:BCOV) was the recipient of a significant decline in short interest in May. As of May 31st, there was short interest totalling 1,580,000 shares, a decline of 5.4% from the May 15th total of 1,670,000 shares. Based on an average daily trading volume, of 215,000 shares, the days-to-cover ratio is currently 7.3 days.

Institutional Trading of Brightcove

A number of institutional investors have recently made changes to their positions in BCOV. Barclays PLC lifted its position in shares of Brightcove by 22.2% in the third quarter. Barclays PLC now owns 57,390 shares of the software maker’s stock worth $189,000 after purchasing an additional 10,420 shares in the last quarter. Acadian Asset Management LLC increased its holdings in Brightcove by 2.9% during the third quarter. Acadian Asset Management LLC now owns 632,164 shares of the software maker’s stock worth $2,079,000 after buying an additional 17,864 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Brightcove by 79.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 152,387 shares of the software maker’s stock worth $501,000 after buying an additional 67,659 shares during the last quarter. Quadrature Capital Ltd increased its holdings in Brightcove by 64.6% during the third quarter. Quadrature Capital Ltd now owns 40,250 shares of the software maker’s stock worth $132,000 after buying an additional 15,796 shares during the last quarter. Finally, 17 Capital Partners LLC acquired a new position in Brightcove during the fourth quarter worth $36,000. Institutional investors own 80.12% of the company’s stock.

Analyst Upgrades and Downgrades

BCOV has been the topic of a number of research reports. StockNews.com raised shares of Brightcove from a “hold” rating to a “buy” rating in a research note on Friday, March 22nd. Rosenblatt Securities cut their price target on shares of Brightcove from $7.50 to $5.00 and set a “buy” rating on the stock in a research note on Friday, February 23rd. Finally, Lake Street Capital reaffirmed a “hold” rating and issued a $3.00 price target on shares of Brightcove in a research note on Friday, February 23rd.

Brightcove Stock Down 2.9 %

Shares of BCOV stock opened at $2.00 on Thursday. The company’s fifty day simple moving average is $1.95 and its 200-day simple moving average is $2.13. The firm has a market cap of $89.16 million, a PE ratio of -9.09 and a beta of 0.72. Brightcove has a 12 month low of $1.55 and a 12 month high of $4.56.

Brightcove (NASDAQ:BCOV) last announced its quarterly earnings data on Wednesday, May 8th. The software maker reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02. The business had revenue of $50.48 million for the quarter. Brightcove had a negative net margin of 4.74% and a negative return on equity of 7.87%. On average, equities analysts predict that Brightcove will post -0.31 earnings per share for the current fiscal year.

Brightcove Company Profile

Brightcove Inc provides cloud-based streaming services the Americas, Europe, the Asia Pacific, Japan, India, and the Middle East. It offers Video Cloud, an online video streaming platform that enables its customers to publish, deliver, and distribute high-quality video to internet-connected devices. The company's solutions and products comprise Brightcove Marketing Studio, a video streaming solution; Brightcove Communications Studio for marketers and corporate communications professionals; Brightcove Media Studio, a solution for over-the-top (OTT) video services, media publishers, and leading broadcasters to monetize their media, live stream at scale, and nurture their audience lifecycle; Brightcove Audience Insights, a customer data platform for video streaming businesses; Zencoder, a cloud-based video encoding service; and Brightcove Beacon, a platform that enables its customers to launch premium OTT video streaming experiences, as well as Brightcove Marketplace.