Brightcove (NASDAQ:BCOV) Stock Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Brightcove Inc. (NASDAQ:BCOV) passed 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

Several equities analysts recently issued reports on BCOV shares. 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 note on Monday, November 25th. StockNews.com initiated coverage on Brightcove in a report on Thursday. They set a “buy” rating on the stock. Finally, Lake Street Capital lowered Brightcove from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 25th.

Brightcove Trading Down 0.2 %

The company has a market capitalization of $197.24 million, a PE ratio of -20.81 and a beta of 1.01. The company’s 50 day moving average price is $3.37 and its 200-day moving average price is $2.63.

Institutional Investors Weigh In On Brightcove

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Edenbrook Capital LLC grew its holdings in shares of Brightcove by 1.8% during the 3rd quarter. Edenbrook Capital LLC now owns 6,651,535 shares of the software maker’s stock worth $14,367,000 after purchasing an additional 120,121 shares during the period. Lynrock Lake LP grew its stake in Brightcove by 2.3% during the second 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 purchased a new stake in Brightcove during the second quarter worth approximately $3,114,000. Acadian Asset Management LLC increased its position in shares of Brightcove by 17.3% in the second 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 in the last quarter. Finally, First Eagle Investment Management LLC raised its stake 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 valued at $1,423,000 after acquiring an additional 269,302 shares during the period. 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.