Brightcove (NASDAQ:BCOV) Upgraded to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Brightcove (NASDAQ:BCOV) from a buy rating to a strong-buy rating in a research note issued to investors on Tuesday morning.

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

Brightcove Stock Performance

Shares of Brightcove stock opened at $3.00 on Tuesday. The company has a market capitalization of $134.76 million, a P/E ratio of -14.29 and a beta of 0.74. Brightcove has a 1 year low of $1.55 and a 1 year high of $3.06. The company’s fifty day moving average is $2.27 and its two-hundred day moving average is $2.21.

Insider Activity at Brightcove

In related news, major shareholder Edenbrook Capital, Llc acquired 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The shares were acquired at an average price of $2.07 per share, with a total value of $41,400.00. Following the completion of the purchase, the insider now directly owns 6,651,535 shares in the company, valued at approximately $13,768,677.45. The trade was a 0.30 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders have purchased 48,988 shares of company stock valued at $100,789. 3.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Brightcove

Institutional investors have recently added to or reduced their stakes in the business. Pitcairn Co. purchased a new stake in Brightcove in the 1st quarter valued at about $27,000. Price T Rowe Associates Inc. MD purchased a new stake in Brightcove in the first quarter valued at approximately $29,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Brightcove during the first quarter worth approximately $33,000. Aaron Wealth Advisors LLC purchased a new position in Brightcove during the second quarter worth approximately $34,000. Finally, XTX Topco Ltd acquired a new position in shares of Brightcove in the 2nd quarter valued at $36,000. 80.12% of the stock is currently owned by institutional investors and hedge funds.

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.