Brightcove (NASDAQ:BCOV) Upgraded at StockNews.com

StockNews.com upgraded shares of Brightcove (NASDAQ:BCOV) from a buy rating to a strong-buy rating in a report published on Tuesday.

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

Brightcove Stock Performance

Shares of NASDAQ:BCOV opened at $3.02 on Tuesday. The company has a 50 day moving average price of $2.23 and a two-hundred day moving average price of $2.20. The company has a market capitalization of $135.66 million, a PE ratio of -14.38 and a beta of 0.74. Brightcove has a 52 week low of $1.55 and a 52 week high of $3.05.

Insider Activity at Brightcove

In related news, major shareholder Edenbrook Capital, Llc bought 20,000 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were purchased at an average cost of $2.07 per share, for a total transaction of $41,400.00. Following the acquisition, the insider now owns 6,651,535 shares of the company’s stock, valued at approximately $13,768,677.45. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In the last three months, insiders acquired 48,988 shares of company stock worth $100,789. 3.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Brightcove

A number of large investors have recently added to or reduced their stakes in the company. Pitcairn Co. acquired a new position in shares of Brightcove during the first quarter worth about $27,000. Price T Rowe Associates Inc. MD bought a new stake in Brightcove in the 1st quarter valued at approximately $29,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Brightcove during the 1st quarter worth approximately $33,000. Aaron Wealth Advisors LLC bought a new position in shares of Brightcove during the 2nd quarter worth approximately $34,000. Finally, XTX Topco Ltd acquired a new stake in shares of Brightcove in the second quarter valued at approximately $36,000. Institutional investors own 80.12% of the company’s stock.

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.