Brightcove (NASDAQ:BCOV) Stock Price Crosses Above 200-Day Moving Average of $2.12

Brightcove Inc. (NASDAQ:BCOV) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.12 and traded as high as $2.45. Brightcove shares last traded at $2.39, with a volume of 729,610 shares trading hands.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Brightcove from a “hold” rating to a “buy” rating in a research note on Friday, March 22nd.

Brightcove Stock Up 10.6 %

The firm’s 50-day simple moving average is $1.98 and its 200-day simple moving average is $2.12. The firm has a market capitalization of $106.55 million, a PE ratio of -10.86 and a beta of 0.72.

Brightcove (NASDAQ:BCOV) last issued its earnings results on Wednesday, May 8th. The software maker reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.02. The company had revenue of $50.48 million during the quarter. Brightcove had a negative return on equity of 7.87% and a negative net margin of 4.74%. On average, equities research analysts forecast that Brightcove Inc. will post -0.31 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Acadian Asset Management LLC boosted its position in Brightcove by 2.9% during the 3rd quarter. Acadian Asset Management LLC now owns 632,164 shares of the software maker’s stock valued at $2,079,000 after buying an additional 17,864 shares during the period. Quadrature Capital Ltd boosted its holdings in shares of 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 purchasing an additional 15,796 shares during the period. Barclays PLC grew its stake 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 during the last quarter. Mackenzie Financial Corp increased its holdings in Brightcove by 55.3% during the 4th quarter. Mackenzie Financial Corp now owns 22,993 shares of the software maker’s stock valued at $60,000 after purchasing an additional 8,186 shares during the period. Finally, SG Americas Securities LLC raised its position in Brightcove by 32.0% during the 4th quarter. SG Americas Securities LLC now owns 25,612 shares of the software maker’s stock valued at $66,000 after purchasing an additional 6,210 shares during the last quarter. 80.12% of the stock is owned by hedge funds and other institutional investors.

About Brightcove

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.