Brightcove Inc. (NASDAQ:BCOV) Sees Large Increase in Short Interest

Brightcove Inc. (NASDAQ:BCOV) saw a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 141,800 shares, an increase of 12.1% from the August 15th total of 126,500 shares. Based on an average daily trading volume, of 294,600 shares, the short-interest ratio is presently 0.5 days.

Insiders Place Their Bets

In other Brightcove news, major shareholder Edenbrook Capital, Llc bought 20,000 shares of the stock in a transaction dated Monday, August 12th. The shares were acquired at an average cost of $1.98 per share, for a total transaction of $39,600.00. Following the completion of the transaction, the insider now owns 6,581,414 shares in the company, valued at approximately $13,031,199.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have bought a total of 66,830 shares of company stock valued at $134,233 over the last quarter. Company insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Pitcairn Co. acquired a new position in Brightcove in the first quarter valued at $27,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of Brightcove in the first quarter worth approximately $29,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Brightcove in the first quarter valued at approximately $33,000. Aaron Wealth Advisors LLC acquired a new position in Brightcove during the second quarter worth approximately $34,000. Finally, XTX Topco Ltd purchased a new position in Brightcove during the second quarter worth approximately $36,000. Hedge funds and other institutional investors own 80.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Brightcove from a “hold” rating to a “buy” rating in a report on Thursday, September 5th.

Brightcove Stock Down 1.9 %

NASDAQ BCOV opened at $2.02 on Wednesday. Brightcove has a fifty-two week low of $1.55 and a fifty-two week high of $3.70. The business has a fifty day moving average of $2.25 and a 200-day moving average of $2.08. The stock has a market cap of $90.06 million, a price-to-earnings ratio of -9.18 and a beta of 0.74.

Brightcove (NASDAQ:BCOV) last released its earnings results on Wednesday, August 7th. The software maker reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.01. The company had revenue of $49.25 million for the quarter. Brightcove had a negative net margin of 4.28% and a negative return on equity of 8.86%. During the same quarter last year, the company posted ($0.07) earnings per share. As a group, analysts anticipate that Brightcove will post -0.32 EPS for the current 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.