Brightcove Inc. (NASDAQ:BCOV) Short Interest Up 7.1% in April

Brightcove Inc. (NASDAQ:BCOV) saw a significant increase in short interest during 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 Stock Performance

NASDAQ BCOV remained flat at $1.78 during trading on Wednesday. 25,403 shares of the company were exchanged, compared to its average volume of 217,274. The company has a market capitalization of $79.05 million, a price-to-earnings ratio of -3.30 and a beta of 0.68. The firm’s fifty day moving average is $1.89 and its 200-day moving average is $2.29. Brightcove has a 52-week low of $1.55 and a 52-week high of $4.56.

Brightcove (NASDAQ:BCOV) last released its quarterly earnings results on Thursday, February 22nd. 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 $50.16 million during the quarter. Brightcove had a negative net margin of 11.38% and a negative return on equity of 17.02%. As a group, equities analysts anticipate that Brightcove will post -0.33 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BCOV has been the subject of a number of recent research reports. Rosenblatt Securities dropped their price target on shares of Brightcove from $7.50 to $5.00 and set a “buy” rating for the company in a research note on Friday, February 23rd. StockNews.com upgraded shares of Brightcove from a “hold” rating to a “buy” rating in a report on Friday, March 22nd. Finally, Lake Street Capital restated a “hold” rating and set a $3.00 price objective on shares of Brightcove in a report on Friday, February 23rd.

Insiders Place Their Bets

In related news, major shareholder Edenbrook Capital, Llc bought 30,000 shares of the company’s stock in a transaction on Wednesday, March 20th. The stock was bought at an average cost of $1.88 per share, with a total value of $56,400.00. Following the completion of the purchase, the insider now owns 6,435,437 shares in the company, valued at approximately $12,098,621.56. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last three months, insiders purchased 56,541 shares of company stock valued at $102,598. Insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BCOV. SG Americas Securities LLC acquired a new position in Brightcove during the third quarter worth $64,000. Barclays PLC raised its position in Brightcove by 22.2% during the third quarter. Barclays PLC now owns 57,390 shares of the software maker’s stock worth $189,000 after acquiring an additional 10,420 shares in the last quarter. Acadian Asset Management LLC raised its position in Brightcove by 2.9% during the third quarter. Acadian Asset Management LLC now owns 632,164 shares of the software maker’s stock worth $2,079,000 after acquiring an additional 17,864 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Brightcove by 79.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 152,387 shares of the software maker’s stock worth $501,000 after acquiring an additional 67,659 shares in the last quarter. Finally, Quadrature Capital Ltd raised its position in 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 acquiring an additional 15,796 shares in the last quarter. Institutional investors and hedge funds own 80.12% of the company’s stock.

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.