Brightcove (NASDAQ:BCOV) Coverage Initiated at StockNews.com

StockNews.com began coverage on shares of Brightcove (NASDAQ:BCOV) in a report published on Friday morning. The firm issued a buy rating on the software maker’s stock.

Several other equities analysts have also issued reports on BCOV. Lake Street Capital lowered shares of Brightcove from a “strong-buy” rating to a “hold” rating in a report on Monday, November 25th. Rosenblatt Securities restated a “neutral” rating and set a $4.45 target price (down previously from $5.00) on shares of Brightcove in a research report on Monday, November 25th.

Brightcove Price Performance

Shares of BCOV stock opened at $4.36 on Friday. Brightcove has a one year low of $1.55 and a one year high of $4.40. The business’s 50 day simple moving average is $3.68 and its 200 day simple moving average is $2.74. The stock has a market capitalization of $196.79 million, a PE ratio of -20.76 and a beta of 1.01.

Hedge Funds Weigh In On Brightcove

Several institutional investors have recently made changes to their positions in the stock. Edenbrook Capital LLC increased its position in Brightcove by 1.8% in the 3rd quarter. Edenbrook Capital LLC now owns 6,651,535 shares of the software maker’s stock valued at $14,367,000 after buying an additional 120,121 shares in the last quarter. Lynrock Lake LP increased its holdings in shares of Brightcove by 2.3% during the second quarter. Lynrock Lake LP now owns 4,407,745 shares of the software maker’s stock valued at $10,446,000 after acquiring an additional 100,000 shares in the last quarter. Nantahala Capital Management LLC bought a new stake in shares of Brightcove during the second quarter valued at approximately $3,114,000. Acadian Asset Management LLC raised its position in shares of Brightcove by 17.3% during the second quarter. Acadian Asset Management LLC now owns 940,508 shares of the software maker’s stock worth $2,227,000 after purchasing an additional 139,049 shares during the period. Finally, First Eagle Investment Management LLC lifted its holdings in shares of Brightcove by 81.4% in the 2nd quarter. First Eagle Investment Management LLC now owns 600,334 shares of the software maker’s stock worth $1,423,000 after purchasing an additional 269,302 shares in the last quarter. Institutional investors and hedge funds own 80.12% of the company’s stock.

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.