Brightcove (NASDAQ:BCOV) Upgraded at StockNews.com

by · The Markets Daily

Brightcove (NASDAQ:BCOV – Get Free Report) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a report released on Tuesday.

Separately, Lake Street Capital raised Brightcove from a “hold” rating to a “buy” rating and lifted their price objective for the company from $2.75 to $3.50 in a research note on Tuesday, November 5th.

View Our Latest Stock Report on BCOV

Brightcove Price Performance

Shares of Brightcove stock traded up $0.03 on Tuesday, reaching $3.02. 543,836 shares of the company traded hands, compared to its average volume of 239,323. Brightcove has a 52 week low of $1.55 and a 52 week high of $3.05. The company has a 50 day moving average of $2.23 and a 200 day moving average of $2.20. The firm has a market capitalization of $135.66 million, a PE ratio of -14.38 and a beta of 0.74.

Insiders Place Their Bets

In other Brightcove news, major shareholder Edenbrook Capital, Llc purchased 20,000 shares of Brightcove stock in a transaction dated Thursday, September 26th. The stock was acquired at an average price of $2.07 per share, for a total transaction of $41,400.00. Following the acquisition, the insider now owns 6,651,535 shares in the company, valued at $13,768,677.45. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders acquired 48,988 shares of company stock worth $100,789 in the last three months. 3.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Brightcove

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pitcairn Co. purchased a new stake in shares of Brightcove during the first quarter worth $27,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of Brightcove in the 1st quarter valued at approximately $29,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Brightcove in the first quarter valued at approximately $33,000. Aaron Wealth Advisors LLC acquired a new position in Brightcove during the second quarter worth $34,000. Finally, XTX Topco Ltd purchased a new position in Brightcove in the second quarter worth $36,000. Institutional investors and hedge funds own 80.12% of the company’s stock.

Brightcove Company Profile

(Get Free Report)

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.

Featured Articles