Brightcove (NASDAQ:BCOV) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why

Brightcove Inc. (NASDAQ:BCOV) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.63 and traded as high as $4.39. Brightcove shares last traded at $4.37, with a volume of 216,108 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on BCOV shares. 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 note on Monday, November 25th. Lake Street Capital cut shares of Brightcove from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 25th. Finally, StockNews.com started coverage on shares of Brightcove in a research note on Thursday. They issued a “buy” rating on the stock.

Brightcove Trading Down 0.2 %

The firm has a market capitalization of $196.79 million, a P/E ratio of -20.76 and a beta of 1.02. The company has a 50 day moving average of $3.41 and a 200-day moving average of $2.64.

Hedge Funds Weigh In On Brightcove

Several institutional investors and hedge funds have recently modified their holdings of BCOV. XTX Topco Ltd acquired a new stake in Brightcove in the 2nd quarter worth about $36,000. Wedbush Securities Inc. acquired a new stake in shares of Brightcove in the second quarter valued at approximately $47,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Brightcove in the second quarter valued at approximately $53,000. Cubist Systematic Strategies LLC acquired a new stake in Brightcove during the second quarter worth approximately $54,000. Finally, JPMorgan Chase & Co. grew its position in Brightcove by 99.3% during the third quarter. JPMorgan Chase & Co. now owns 30,689 shares of the software maker’s stock worth $66,000 after buying an additional 15,291 shares in the last quarter. 80.12% of the stock is currently 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.