Brightcove (NASDAQ:BCOV) Shares Pass Above Two Hundred Day Moving Average – Time to Sell?

Brightcove Inc. (NASDAQ:BCOV) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.72 and traded as high as $4.38. Brightcove shares last traded at $4.33, with a volume of 2,269,580 shares trading hands.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Lake Street Capital downgraded shares of Brightcove from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 25th. Rosenblatt Securities reissued a “neutral” rating and issued a $4.45 target price (down previously from $5.00) on shares of Brightcove in a report on Monday, November 25th. Finally, StockNews.com began coverage on Brightcove in a research note on Friday. They issued a “buy” rating for the company.

Brightcove Price Performance

The business has a fifty day moving average of $3.68 and a 200-day moving average of $2.74. The stock has a market capitalization of $196.79 million, a price-to-earnings ratio of -20.76 and a beta of 1.01.

Institutional Investors Weigh In On Brightcove

A number of institutional investors and hedge funds have recently modified their holdings of BCOV. First Eagle Investment Management LLC lifted its position in shares of Brightcove by 81.4% in the 2nd quarter. First Eagle Investment Management LLC now owns 600,334 shares of the software maker’s stock valued at $1,423,000 after acquiring an additional 269,302 shares in the last quarter. Edenbrook Capital LLC lifted its holdings in shares of Brightcove by 1.8% in the third quarter. Edenbrook Capital LLC now owns 6,651,535 shares of the software maker’s stock valued at $14,367,000 after purchasing an additional 120,121 shares in the last quarter. P.A.W. Capital Corp acquired a new stake in shares of Brightcove in the third quarter worth $540,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Brightcove during the second quarter valued at $142,000. Finally, Nantahala Capital Management LLC purchased a new position in shares of Brightcove during the second quarter valued at $3,114,000. 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.