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

Bridgeline Digital, Inc. (NASDAQ:BLIN) was the target of a large decrease in short interest in March. As of March 31st, there was short interest totaling 8,629 shares, a decrease of 32.0% from the March 15th total of 12,684 shares. Currently, 0.1% of the company’s stock are short sold. Based on an average trading volume of 20,504 shares, the days-to-cover ratio is presently 0.4 days.

Bridgeline Digital Stock Down 2.4%

Shares of NASDAQ BLIN opened at $0.83 on Tuesday. Bridgeline Digital has a 52-week low of $0.69 and a 52-week high of $2.22. The business has a 50-day moving average price of $0.85 and a 200 day moving average price of $0.99. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.02. The stock has a market cap of $10.46 million, a PE ratio of -3.95 and a beta of 0.87.

Bridgeline Digital (NASDAQ:BLIN) last posted its quarterly earnings data on Thursday, February 12th. The software maker reported ($0.01) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.01). Bridgeline Digital had a negative return on equity of 19.87% and a negative net margin of 12.71%.The company had revenue of $3.91 million during the quarter, compared to analysts’ expectations of $4.30 million. Equities research analysts forecast that Bridgeline Digital will post -0.15 earnings per share for the current year.

Institutional Trading of Bridgeline Digital

Several hedge funds have recently made changes to their positions in BLIN. Citadel Advisors LLC acquired a new stake in shares of Bridgeline Digital in the 3rd quarter worth $41,000. DRW Securities LLC acquired a new stake in shares of Bridgeline Digital in the 4th quarter valued at approximately $45,000. Finally, Lido Advisors LLC acquired a new stake in shares of Bridgeline Digital in the 4th quarter valued at approximately $48,000. Institutional investors and hedge funds own 15.08% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Bridgeline Digital in a research report on Wednesday, January 21st. Westpark Capital reissued a “buy” rating and issued a $4.62 target price on shares of Bridgeline Digital in a research report on Friday, December 19th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Bridgeline Digital currently has an average rating of “Hold” and a consensus target price of $4.62.

About Bridgeline Digital

Bridgeline Digital, Inc is a software-as-a-service company that delivers digital experience management solutions to mid-market and enterprise organizations. The company’s core offering, the LX Platform, integrates content management, e-commerce, customer portals and digital marketing tools into a unified cloud-based environment. Bridgeline’s platform is designed to help businesses streamline the delivery of personalized content and commerce capabilities across web, mobile and other channels.

The LX Platform features modules for web content creation, online storefront management, customer self-service portals and marketing automation.