Brightcove Inc. (NASDAQ:BCOV) Short Interest Up 15.3% in December

Brightcove Inc. (NASDAQ:BCOV) was the target of a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 230,800 shares, an increase of 15.3% from the December 15th total of 200,100 shares. Based on an average daily trading volume, of 567,900 shares, the short-interest ratio is currently 0.4 days.

Brightcove Stock Performance

NASDAQ:BCOV remained flat at $4.42 during trading hours on Friday. 120,611 shares of the company’s stock traded hands, compared to its average volume of 424,135. The stock has a market capitalization of $199.52 million, a P/E ratio of -21.05 and a beta of 1.01. Brightcove has a twelve month low of $1.55 and a twelve month high of $4.44. The firm has a 50-day moving average of $4.09 and a 200 day moving average of $2.89.

Analyst Upgrades and Downgrades

BCOV has been the topic of several recent research reports. Rosenblatt Securities reiterated a “neutral” rating and issued a $4.45 price target (down from $5.00) on shares of Brightcove in a research report on Monday, November 25th. StockNews.com started coverage on Brightcove in a report on Saturday, January 11th. They issued a “buy” rating on the stock. Finally, Lake Street Capital lowered Brightcove from a “strong-buy” rating to a “hold” rating in a report on Monday, November 25th.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Nantahala Capital Management LLC bought a new stake in Brightcove during the second quarter valued at about $3,114,000. First Eagle Investment Management LLC grew its position in shares of Brightcove by 81.4% during the second quarter. First Eagle Investment Management LLC now owns 600,334 shares of the software maker’s stock worth $1,423,000 after purchasing an additional 269,302 shares in the last quarter. P.A.W. Capital Corp bought a new stake in Brightcove during the 3rd quarter valued at approximately $540,000. Jacobs Levy Equity Management Inc. lifted its holdings in Brightcove by 1,124.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 245,526 shares of the software maker’s stock worth $530,000 after purchasing an additional 225,482 shares in the last quarter. Finally, Edenbrook Capital LLC boosted its stake in Brightcove by 1.8% in the 3rd quarter. Edenbrook Capital LLC now owns 6,651,535 shares of the software maker’s stock worth $14,367,000 after purchasing an additional 120,121 shares during the period. Hedge funds and other institutional investors own 80.12% of the company’s stock.

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.