Bridgeline Digital, Inc. (NASDAQ:BLIN) Sees Large Growth in Short Interest

Bridgeline Digital, Inc. (NASDAQ:BLIN – Get Rating) saw a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 68,500 shares, an increase of 151.8% from the March 15th total of 27,200 shares. Based on an average daily volume of 130,600 shares, the days-to-cover ratio is presently 0.5 days.

A number of brokerages have recently issued reports on BLIN. Zacks Investment Research cut shares of Bridgeline Digital from a “buy” rating to a “hold” rating in a report on Tuesday, March 15th. StockNews.com initiated coverage on shares of Bridgeline Digital in a report on Tuesday. They issued a “hold” rating on the stock.

A number of institutional investors have recently added to or reduced their stakes in BLIN. AIGH Capital Management LLC acquired a new position in shares of Bridgeline Digital during the 3rd quarter worth approximately $17,214,000. Renaissance Technologies LLC grew its position in shares of Bridgeline Digital by 57.3% during the 4th quarter. Renaissance Technologies LLC now owns 253,859 shares of the software maker’s stock worth $574,000 after purchasing an additional 92,427 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Bridgeline Digital during the 4th quarter worth approximately $161,000. Geode Capital Management LLC grew its position in shares of Bridgeline Digital by 92.6% during the 3rd quarter. Geode Capital Management LLC now owns 46,390 shares of the software maker’s stock worth $190,000 after purchasing an additional 22,306 shares in the last quarter. Finally, GWM Advisors LLC grew its position in shares of Bridgeline Digital by 8.1% during the 3rd quarter. GWM Advisors LLC now owns 44,822 shares of the software maker’s stock worth $184,000 after purchasing an additional 3,361 shares in the last quarter. 28.26% of the stock is currently owned by hedge funds and other institutional investors.

Bridgeline Digital stock opened at $1.85 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.33 and a quick ratio of 1.33. Bridgeline Digital has a twelve month low of $1.54 and a twelve month high of $14.38. The company’s 50-day moving average price is $1.88 and its two-hundred day moving average price is $2.53.

Bridgeline Digital (NASDAQ:BLIN – Get Rating) last released its quarterly earnings results on Thursday, February 10th. The software maker reported $0.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.13. The firm had revenue of $4.29 million for the quarter, compared to analysts’ expectations of $4.36 million. Bridgeline Digital had a negative net margin of 24.84% and a negative return on equity of 28.74%. During the same period in the prior year, the firm earned ($0.26) EPS. On average, analysts forecast that Bridgeline Digital will post -0.01 EPS for the current fiscal year.

About Bridgeline Digital (Get Rating)

Bridgeline Digital, Inc operates as a digital engagement company in the United States. The company's Bridgeline's Unbound platform enables companies and developers to create websites, web applications, and online stores. It offers Bridgeline Unbound Experience Manager, a marketing automation engine and content management system; Bridgeline Unbound Content Manager that enables non-technical users to create, edit, and publish content via a browser-based interface; and Bridgeline Unbound Commerce, an online B2B and B2C commerce solution that allows users to manage domestic and international commerce initiatives.

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