Brightcove Inc. (NASDAQ:BCOV) Short Interest Down 5.1% in December

Brightcove Inc. (NASDAQ:BCOV) was the recipient of a large decrease in short interest in December. As of December 15th, there was short interest totalling 200,100 shares, a decrease of 5.1% from the November 30th total of 210,900 shares. Based on an average daily trading volume, of 499,100 shares, the days-to-cover ratio is currently 0.4 days.

Brightcove Stock Performance

NASDAQ:BCOV opened at $4.35 on Thursday. The stock has a fifty day moving average price of $3.59 and a 200-day moving average price of $2.71. The company has a market cap of $196.34 million, a price-to-earnings ratio of -20.71 and a beta of 1.02. Brightcove has a fifty-two week low of $1.55 and a fifty-two week high of $4.40.

Analyst Ratings Changes

BCOV has been the topic of a number of research reports. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $4.45 price objective (down from $5.00) on shares of Brightcove in a report on Monday, November 25th. Lake Street Capital lowered Brightcove from a “strong-buy” rating to a “hold” rating in a report on Monday, November 25th. Finally, StockNews.com began coverage on Brightcove in a report on Thursday, December 26th. They issued a “buy” rating on the stock.

Institutional Trading of Brightcove

A number of institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its position in shares of Brightcove by 99.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 30,689 shares of the software maker’s stock valued at $66,000 after acquiring an additional 15,291 shares during the period. Geode Capital Management LLC lifted its position in shares of Brightcove by 8.3% during the 3rd quarter. Geode Capital Management LLC now owns 488,275 shares of the software maker’s stock worth $1,055,000 after buying an additional 37,584 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its position in shares of Brightcove by 1,124.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 245,526 shares of the software maker’s stock worth $530,000 after buying an additional 225,482 shares during the last quarter. Edenbrook Capital LLC lifted its position in shares of Brightcove by 1.8% during the 3rd quarter. Edenbrook Capital LLC now owns 6,651,535 shares of the software maker’s stock worth $14,367,000 after buying an additional 120,121 shares during the last quarter. Finally, P.A.W. Capital Corp bought a new stake in shares of Brightcove during the 3rd quarter worth $540,000. 80.12% of the stock is currently owned by 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.