Brightcove Inc. (NASDAQ:BCOV) Short Interest Update

Brightcove Inc. (NASDAQ:BCOV) was the recipient of a large decrease in short interest in June. As of June 30th, there was short interest totalling 1,290,000 shares, a decrease of 15.1% from the June 15th total of 1,520,000 shares. Based on an average daily volume of 316,100 shares, the short-interest ratio is presently 4.1 days.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Brightcove from a “buy” rating to a “strong-buy” rating in a research report on Thursday.

Hedge Funds Weigh In On Brightcove

A number of hedge funds have recently bought and sold shares of BCOV. SG Americas Securities LLC boosted its position in shares of Brightcove by 32.0% during the 4th quarter. SG Americas Securities LLC now owns 25,612 shares of the software maker’s stock valued at $66,000 after purchasing an additional 6,210 shares in the last quarter. Mackenzie Financial Corp grew its position in shares of Brightcove by 55.3% during the 4th quarter. Mackenzie Financial Corp now owns 22,993 shares of the software maker’s stock worth $60,000 after buying an additional 8,186 shares during the period. Quadrature Capital Ltd grew its holdings in Brightcove by 12.4% in the first quarter. Quadrature Capital Ltd now owns 84,963 shares of the software maker’s stock worth $165,000 after purchasing an additional 9,353 shares during the period. State Board of Administration of Florida Retirement System grew its stake in shares of Brightcove by 89.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 21,454 shares of the software maker’s stock valued at $42,000 after buying an additional 10,120 shares during the period. Finally, Werba Rubin Papier Wealth Management acquired a new position in shares of Brightcove during the fourth quarter worth approximately $27,000. Institutional investors own 80.12% of the company’s stock.

Brightcove Stock Performance

Shares of NASDAQ BCOV traded down $0.09 during mid-day trading on Monday, reaching $2.52. The company had a trading volume of 187,284 shares, compared to its average volume of 270,399. The firm has a market cap of $112.34 million, a price-to-earnings ratio of -11.50 and a beta of 0.74. The business’s 50-day simple moving average is $2.15 and its 200 day simple moving average is $2.11. Brightcove has a one year low of $1.55 and a one year high of $4.56.

Brightcove (NASDAQ:BCOV) last issued its quarterly earnings data on Wednesday, May 8th. The software maker reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.02. Brightcove had a negative net margin of 4.74% and a negative return on equity of 7.87%. The business had revenue of $50.48 million during the quarter. On average, sell-side analysts anticipate that Brightcove will post -0.31 EPS for the current 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.