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

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

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

Brightcove Price Performance

NASDAQ BCOV opened at $3.02 on Tuesday. The stock’s 50 day simple moving average is $2.23 and its 200 day simple moving average is $2.20. Brightcove has a one year low of $1.55 and a one year high of $3.05. The firm has a market cap of $135.66 million, a PE ratio of -14.38 and a beta of 0.74.

Insider Activity at Brightcove

In other news, major shareholder Edenbrook Capital, Llc acquired 20,000 shares of Brightcove stock in a transaction on Thursday, September 26th. The shares were purchased at an average price of $2.07 per share, with a total value of $41,400.00. Following the acquisition, the insider now owns 6,651,535 shares in the company, valued at $13,768,677.45. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders purchased a total of 48,988 shares of company stock valued at $100,789 over the last quarter. Corporate insiders own 3.70% of the company’s stock.

Institutional Trading of Brightcove

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pitcairn Co. bought a new position in shares of Brightcove in the 1st quarter valued at about $27,000. Aaron Wealth Advisors LLC bought a new position in Brightcove in the second quarter valued at approximately $34,000. Price T Rowe Associates Inc. MD acquired a new stake in Brightcove during the 1st quarter worth $29,000. XTX Topco Ltd bought a new stake in shares of Brightcove during the 2nd quarter valued at $36,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Brightcove in the 1st quarter valued at $33,000. 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.