Brightcove (NASDAQ:BCOV) Stock Crosses Above 200-Day Moving Average – Should You Sell?

Shares of Brightcove Inc. (NASDAQ:BCOV) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.19 and traded as high as $3.05. Brightcove shares last traded at $3.02, with a volume of 543,836 shares trading hands.

Analyst Ratings Changes

BCOV has been the subject of a number of research reports. StockNews.com raised shares of Brightcove from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Lake Street Capital raised Brightcove from a “hold” rating to a “buy” rating and upped their target price for the stock from $2.75 to $3.50 in a research report on Tuesday, November 5th.

Brightcove Stock Performance

The firm has a market capitalization of $135.66 million, a price-to-earnings ratio of -14.38 and a beta of 0.74. The stock’s fifty day moving average is $2.23 and its two-hundred day moving average is $2.20.

Insider Buying and Selling at Brightcove

In other Brightcove news, major shareholder Edenbrook Capital, Llc purchased 20,000 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The shares were acquired at an average price of $2.07 per share, for a total transaction of $41,400.00. Following the completion of the purchase, the insider now owns 6,651,535 shares in the company, valued at $13,768,677.45. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders bought a total of 48,988 shares of company stock valued at $100,789 in the last ninety days. Insiders own 3.70% of the company’s stock.

Institutional Trading of Brightcove

Several institutional investors have recently added to or reduced their stakes in BCOV. P.A.W. Capital Corp acquired a new position in Brightcove during the 3rd quarter worth $540,000. Cubist Systematic Strategies LLC bought a new position in shares of Brightcove during the second quarter worth about $54,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Brightcove in the second quarter worth about $142,000. Nantahala Capital Management LLC bought a new stake in Brightcove in the second quarter valued at about $3,114,000. Finally, Lynrock Lake LP lifted its holdings in Brightcove by 2.3% during the 2nd quarter. Lynrock Lake LP now owns 4,407,745 shares of the software maker’s stock worth $10,446,000 after buying an additional 100,000 shares during the last quarter. 80.12% of the stock is owned by institutional investors and hedge funds.

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.