Brightcove Inc. (NASDAQ:BCOV) Short Interest Update

Brightcove Inc. (NASDAQ:BCOV) was the recipient of a large increase in short interest in December. As of December 31st, there was short interest totalling 230,800 shares, an increase of 15.3% from the December 15th total of 200,100 shares. Based on an average daily trading volume, of 567,900 shares, the days-to-cover ratio is currently 0.4 days.

Brightcove Stock Performance

Shares of BCOV stock remained flat at $4.42 during trading hours on Friday. The company’s stock had a trading volume of 120,611 shares, compared to its average volume of 424,135. Brightcove has a 52-week low of $1.55 and a 52-week high of $4.44. The company’s fifty day moving average is $4.09 and its 200 day moving average is $2.89.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Mackenzie Financial Corp boosted its position in Brightcove by 11.0% in the second quarter. Mackenzie Financial Corp now owns 61,329 shares of the software maker’s stock valued at $145,000 after buying an additional 6,095 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Brightcove by 99.3% in 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 last quarter. XTX Topco Ltd acquired a new stake in shares of Brightcove during the 2nd quarter valued at $36,000. Cubist Systematic Strategies LLC bought a new stake in Brightcove during the 2nd quarter worth $54,000. Finally, Geode Capital Management LLC increased its holdings in Brightcove by 8.3% in the 3rd quarter. Geode Capital Management LLC now owns 488,275 shares of the software maker’s stock worth $1,055,000 after purchasing an additional 37,584 shares in the last quarter. Institutional investors own 80.12% of the company’s stock.

Analysts Set New Price Targets

BCOV has been the subject of several analyst reports. StockNews.com initiated coverage on shares of Brightcove in a research note on Sunday. They issued a “buy” rating for the company. Rosenblatt Securities restated a “neutral” rating and issued a $4.45 price target (down previously from $5.00) on shares of Brightcove in a research report on Monday, November 25th. Finally, Lake Street Capital cut shares of Brightcove from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 25th.

Brightcove Company Profile

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.