Brightcove (NASDAQ:BCOV) Shares Cross Above 200-Day Moving Average – Here’s Why

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 traded.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Lake Street Capital downgraded Brightcove from a “strong-buy” rating to a “hold” rating in a report on Monday, November 25th. StockNews.com initiated coverage on shares of Brightcove in a research note on Thursday. They set a “buy” rating on the stock. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and set a $4.45 price target (down from $5.00) on shares of Brightcove in a report on Monday, November 25th.

Brightcove Trading Down 0.2 %

The company has a market capitalization of $197.24 million, a price-to-earnings ratio of -20.81 and a beta of 1.01. The stock has a 50-day simple moving average of $3.37 and a 200-day simple moving average of $2.63.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. First Eagle Investment Management LLC increased its position 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 during the last quarter. Edenbrook Capital LLC raised its stake in Brightcove by 1.8% during the third 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. P.A.W. Capital Corp acquired a new stake in Brightcove during the third quarter valued at approximately $540,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Brightcove during the 2nd quarter worth approximately $142,000. Finally, Nantahala Capital Management LLC acquired a new position in shares of Brightcove in the 2nd quarter worth approximately $3,114,000. 80.12% of the stock is currently owned by institutional investors.

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.