Brightcove (NASDAQ:BCOV) Now Covered by Analysts at StockNews.com

Equities researchers at StockNews.com started coverage on shares of Brightcove (NASDAQ:BCOV) in a research report issued to clients and investors on Saturday. The brokerage set a “buy” rating on the software maker’s stock.

Several other brokerages have also recently issued reports on BCOV. Rosenblatt Securities reiterated a “neutral” rating and issued a $4.45 price objective (down previously from $5.00) on shares of Brightcove in a research note on Monday, November 25th. Lake Street Capital cut Brightcove from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 25th.

Brightcove Stock Performance

Shares of NASDAQ BCOV opened at $4.45 on Friday. The stock has a market cap of $202.12 million, a P/E ratio of -21.19 and a beta of 1.01. The business’s fifty day simple moving average is $4.42 and its 200-day simple moving average is $3.39. Brightcove has a 12-month low of $1.55 and a 12-month high of $4.46.

Hedge Funds Weigh In On Brightcove

Several hedge funds have recently made changes to their positions in BCOV. Edenbrook Capital LLC grew its position in 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 last quarter. Beryl Capital Management LLC purchased a new stake in shares of Brightcove in the fourth quarter valued at about $19,575,000. Renaissance Technologies LLC increased its stake in shares of Brightcove by 33.3% during the fourth quarter. Renaissance Technologies LLC now owns 1,832,251 shares of the software maker’s stock worth $7,970,000 after acquiring an additional 458,019 shares during the period. D. E. Shaw & Co. Inc. raised its holdings in Brightcove by 34.5% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 591,944 shares of the software maker’s stock worth $2,575,000 after purchasing an additional 151,674 shares in the last quarter. Finally, AMH Equity Ltd lifted its position in Brightcove by 1.5% in the fourth quarter. AMH Equity Ltd now owns 507,513 shares of the software maker’s stock valued at $2,208,000 after purchasing an additional 7,513 shares during the period. Hedge funds and other institutional investors 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.