Brightcove Inc. (NASDAQ:BCOV) Short Interest Update

Brightcove Inc. (NASDAQ:BCOV) was the recipient of a significant drop in short interest in September. As of September 15th, there was short interest totalling 77,300 shares, a drop of 45.5% from the August 31st total of 141,800 shares. Based on an average daily volume of 289,000 shares, the short-interest ratio is presently 0.3 days.

Analyst Ratings Changes

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

Insider Activity

In other news, major shareholder Edenbrook Capital, Llc acquired 20,000 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was purchased at an average price of $1.98 per share, for a total transaction of $39,600.00. Following the completion of the transaction, the insider now directly owns 6,581,414 shares in the company, valued at approximately $13,031,199.72. The acquisition was disclosed in a filing with the SEC, which is available through this link. Insiders bought a total of 68,926 shares of company stock worth $138,425 over the last 90 days. Corporate insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in BCOV. Nantahala Capital Management LLC purchased a new position in shares of Brightcove during the second quarter valued at approximately $3,114,000. First Eagle Investment Management LLC purchased a new position in shares of Brightcove during the first quarter valued at approximately $642,000. Acadian Asset Management LLC boosted its position in shares of Brightcove by 17.3% during the second quarter. Acadian Asset Management LLC now owns 940,508 shares of the software maker’s stock valued at $2,227,000 after buying an additional 139,049 shares during the period. GSA Capital Partners LLP boosted its position in shares of Brightcove by 151.0% during the first quarter. GSA Capital Partners LLP now owns 225,176 shares of the software maker’s stock valued at $437,000 after buying an additional 135,462 shares during the period. Finally, Lynrock Lake LP boosted its position in shares of Brightcove by 2.3% during the second quarter. Lynrock Lake LP now owns 4,407,745 shares of the software maker’s stock valued at $10,446,000 after buying an additional 100,000 shares during the period. Hedge funds and other institutional investors own 80.12% of the company’s stock.

Brightcove Trading Up 3.0 %

BCOV opened at $2.06 on Thursday. The firm has a market cap of $91.84 million, a P/E ratio of -9.36 and a beta of 0.74. Brightcove has a 12 month low of $1.55 and a 12 month high of $3.37. The stock has a 50-day moving average of $2.19 and a 200 day moving average of $2.08.

Brightcove (NASDAQ:BCOV) last released its quarterly earnings results on Wednesday, August 7th. The software maker reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.01. The company had revenue of $49.25 million during the quarter. Brightcove had a negative return on equity of 8.86% and a negative net margin of 4.28%. During the same quarter in the prior year, the business posted ($0.07) EPS. On average, research analysts forecast that Brightcove will post -0.32 earnings per share for the current fiscal year.

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.