Brightcove Inc. (NASDAQ:BCOV) Sees Large Increase in Short Interest

Brightcove Inc. (NASDAQ:BCOV - Get Free Report) was the target of a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 1,660,000 shares, an increase of 7.1% from the March 31st total of 1,550,000 shares. Based on an average trading volume of 226,000 shares, the short-interest ratio is currently 7.3 days.

Brightcove Trading Up 2.2 %

Shares of Brightcove stock traded up $0.04 during trading on Wednesday, hitting $1.82. 167,548 shares of the stock were exchanged, compared to its average volume of 218,998. The stock has a market capitalization of $80.83 million, a price-to-earnings ratio of -3.37 and a beta of 0.68. The company has a fifty day moving average price of $1.89 and a 200-day moving average price of $2.29. Brightcove has a 1-year low of $1.55 and a 1-year high of $4.56.

Brightcove (NASDAQ:BCOV - Get Free Report) last released its quarterly earnings data on Thursday, February 22nd. The software maker reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.02. The company had revenue of $50.16 million for the quarter. Brightcove had a negative net margin of 11.38% and a negative return on equity of 17.02%. Equities research analysts forecast that Brightcove will post -0.33 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Edenbrook Capital, Llc acquired 30,000 shares of the company's stock in a transaction that occurred on Wednesday, March 20th. The shares were acquired at an average cost of $1.88 per share, for a total transaction of $56,400.00. Following the completion of the acquisition, the insider now directly owns 6,435,437 shares in the company, valued at approximately $12,098,621.56. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have purchased a total of 56,541 shares of company stock worth $102,598 over the last ninety days. Company insiders own 4.20% of the company's stock.

Institutional Trading of Brightcove

Several hedge funds and other institutional investors have recently modified their holdings of BCOV. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Brightcove by 79.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 152,387 shares of the software maker's stock worth $501,000 after buying an additional 67,659 shares during the period. Monaco Asset Management SAM bought a new stake in Brightcove in the 4th quarter valued at about $142,000. Quadrature Capital Ltd boosted its holdings in Brightcove by 87.9% in the 4th quarter. Quadrature Capital Ltd now owns 75,610 shares of the software maker's stock valued at $196,000 after purchasing an additional 35,360 shares during the period. BNP Paribas Financial Markets boosted its holdings in Brightcove by 26.6% in the 1st quarter. BNP Paribas Financial Markets now owns 107,074 shares of the software maker's stock valued at $208,000 after purchasing an additional 22,466 shares during the period. Finally, SG Americas Securities LLC bought a new stake in Brightcove in the 3rd quarter valued at about $64,000. Institutional investors own 80.12% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on BCOV. Rosenblatt Securities lowered their price target on shares of Brightcove from $7.50 to $5.00 and set a "buy" rating on the stock in a research note on Friday, February 23rd. StockNews.com upgraded shares of Brightcove from a "hold" rating to a "buy" rating in a research note on Friday, March 22nd. Finally, Lake Street Capital reiterated a "hold" rating and issued a $3.00 price target on shares of Brightcove in a research note on Friday, February 23rd.

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.