StockNews.com Downgrades Brightcove (NASDAQ:BCOV) to Buy

Brightcove (NASDAQ:BCOV) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Monday.

BCOV has been the subject of several other reports. Rosenblatt Securities restated a “neutral” rating and issued a $4.45 price target (down from $5.00) on shares of Brightcove in a research note on Monday, November 25th. Lake Street Capital lowered shares of Brightcove from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 25th.

Brightcove Price Performance

Brightcove stock remained flat at $4.27 during mid-day trading on Monday. 852,585 shares of the company traded hands, compared to its average volume of 306,747. The company has a 50 day moving average of $2.61 and a 200 day moving average of $2.35. The stock has a market cap of $192.75 million, a price-to-earnings ratio of -20.33 and a beta of 0.74. Brightcove has a one year low of $1.55 and a one year high of $4.33.

Insider Buying and Selling at Brightcove

In other Brightcove news, major shareholder Edenbrook Capital, Llc acquired 20,000 shares of the stock in a transaction on Thursday, September 26th. The stock was acquired at an average price of $2.07 per share, for a total transaction of $41,400.00. Following the completion of the transaction, the insider now directly owns 6,651,535 shares of the company’s stock, valued at $13,768,677.45. This trade represents a 0.30 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders bought 48,988 shares of company stock worth $100,789 in the last quarter. 3.70% of the stock is owned by corporate insiders.

Institutional Trading of Brightcove

A number of large investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD purchased a new position in Brightcove in the first quarter worth about $29,000. Aaron Wealth Advisors LLC bought a new position in shares of Brightcove during the 2nd quarter valued at approximately $34,000. XTX Topco Ltd purchased a new stake in Brightcove during the 2nd quarter valued at $36,000. Wedbush Securities Inc. bought a new stake in Brightcove in the second quarter worth $47,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in Brightcove in the second quarter worth $53,000. 80.12% of the stock is currently owned by institutional investors.

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.