Brightcove (NASDAQ:BCOV) Stock Passes Above 200 Day Moving Average – What’s Next?

Shares of Brightcove Inc. (NASDAQ:BCOV) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.72 and traded as high as $4.38. Brightcove shares last traded at $4.33, with a volume of 2,269,580 shares traded.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. StockNews.com assumed coverage on shares of Brightcove in a research note on Friday. They issued a “buy” rating on the stock. Lake Street Capital downgraded shares of Brightcove from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 25th. Finally, Rosenblatt Securities reissued a “neutral” rating and set a $4.45 price objective (down previously from $5.00) on shares of Brightcove in a research report on Monday, November 25th.

Brightcove Stock Up 0.7 %

The stock has a market cap of $196.79 million, a P/E ratio of -20.76 and a beta of 1.01. The firm’s 50-day moving average is $3.68 and its two-hundred day moving average is $2.74.

Hedge Funds Weigh In On Brightcove

Hedge funds have recently bought and sold shares of the business. Edenbrook Capital LLC raised its position in shares of Brightcove by 1.8% in the third quarter. Edenbrook Capital LLC now owns 6,651,535 shares of the software maker’s stock valued at $14,367,000 after purchasing an additional 120,121 shares during the period. Lynrock Lake LP boosted its holdings in shares of Brightcove by 2.3% during the 2nd quarter. Lynrock Lake LP now owns 4,407,745 shares of the software maker’s stock worth $10,446,000 after buying an additional 100,000 shares during the period. Nantahala Capital Management LLC acquired a new position in Brightcove in the 2nd quarter valued at $3,114,000. Acadian Asset Management LLC raised its holdings in Brightcove by 17.3% in the 2nd quarter. Acadian Asset Management LLC now owns 940,508 shares of the software maker’s stock worth $2,227,000 after acquiring an additional 139,049 shares during the period. Finally, First Eagle Investment Management LLC lifted its position in Brightcove by 81.4% during the 2nd quarter. First Eagle Investment Management LLC now owns 600,334 shares of the software maker’s stock worth $1,423,000 after acquiring an additional 269,302 shares during the last quarter. 80.12% of the stock is 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.