Short Interest in Bridgeline Digital, Inc. (NASDAQ:BLIN) Drops By 86.8%

Bridgeline Digital, Inc. (NASDAQ:BLIN) was the target of a large drop in short interest during the month of February. As of February 27th, there was short interest totaling 9,386 shares, a drop of 86.8% from the February 12th total of 71,150 shares. Currently, 0.1% of the company’s shares are short sold. Based on an average daily trading volume, of 84,742 shares, the short-interest ratio is presently 0.1 days. Based on an average daily trading volume, of 84,742 shares, the short-interest ratio is presently 0.1 days. Currently, 0.1% of the company’s shares are short sold.

Institutional Investors Weigh In On Bridgeline Digital

A number of large investors have recently modified their holdings of the company. Citadel Advisors LLC acquired a new stake in shares of Bridgeline Digital in the 3rd quarter valued at $41,000. DRW Securities LLC acquired a new position in shares of Bridgeline Digital during the fourth quarter worth $45,000. Finally, Lido Advisors LLC purchased a new position in Bridgeline Digital in the fourth quarter valued at $48,000. 15.08% of the stock is owned by hedge funds and other institutional investors.

Bridgeline Digital Price Performance

BLIN opened at $0.97 on Wednesday. The stock’s 50-day moving average price is $0.83 and its 200 day moving average price is $1.07. Bridgeline Digital has a 12-month low of $0.69 and a 12-month high of $2.22. The firm has a market cap of $12.22 million, a price-to-earnings ratio of -4.62 and a beta of 0.82. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.02.

Bridgeline Digital (NASDAQ:BLIN) last issued its quarterly earnings results on Thursday, February 12th. The software maker reported ($0.01) EPS for the quarter, meeting the consensus estimate of ($0.01). The company had revenue of $3.91 million during the quarter, compared to analysts’ expectations of $4.30 million. Bridgeline Digital had a negative net margin of 12.71% and a negative return on equity of 19.87%. As a group, sell-side analysts expect that Bridgeline Digital will post -0.15 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on BLIN shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Bridgeline Digital in a report on Wednesday, January 21st. Westpark Capital reissued a “buy” rating and set a $4.62 target price on shares of Bridgeline Digital in a research note on Friday, December 19th. Finally, Zacks Research upgraded Bridgeline Digital from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 19th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock 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.