Bridgeline Digital, Inc. (NASDAQ:BLIN) Sees Significant Decline in Short Interest

Bridgeline Digital, Inc. (NASDAQ:BLIN) was the target of a significant drop in short interest in February. As of February 28th, there was short interest totalling 57,500 shares, a drop of 16.3% from the February 13th total of 68,700 shares. Based on an average daily trading volume, of 215,700 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.7% of the company’s stock are sold short.

Institutional Trading of Bridgeline Digital

Several hedge funds and other institutional investors have recently modified their holdings of the business. Jane Street Group LLC acquired a new stake in shares of Bridgeline Digital in the fourth quarter worth $31,000. Renaissance Technologies LLC boosted its position in Bridgeline Digital by 27.7% during the fourth quarter. Renaissance Technologies LLC now owns 130,904 shares of the software maker’s stock valued at $207,000 after purchasing an additional 28,375 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Bridgeline Digital by 33.8% during the fourth quarter. Geode Capital Management LLC now owns 90,340 shares of the software maker’s stock valued at $143,000 after purchasing an additional 22,806 shares during the last quarter. Institutional investors and hedge funds own 15.08% of the company’s stock.

Wall Street Analysts Forecast Growth

BLIN has been the subject of a number of analyst reports. StockNews.com raised Bridgeline Digital from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. Westpark Capital raised Bridgeline Digital from a “hold” rating to a “buy” rating and set a $4.62 price target on the stock in a report on Friday, February 14th.

Bridgeline Digital Stock Up 1.4 %

Shares of BLIN stock opened at $1.50 on Tuesday. Bridgeline Digital has a 1 year low of $0.76 and a 1 year high of $2.80. The stock has a market cap of $15.66 million, a PE ratio of -7.89 and a beta of 1.85. The business’s fifty day moving average is $1.69 and its 200-day moving average is $1.38. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.62 and a current ratio of 0.62.

Bridgeline Digital (NASDAQ:BLIN) last released its quarterly earnings data on Thursday, February 13th. The software maker reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.01). Bridgeline Digital had a negative return on equity of 15.38% and a negative net margin of 12.82%. Equities analysts expect that Bridgeline Digital will post -0.15 earnings per share for the current fiscal year.

Bridgeline Digital Company Profile

Bridgeline Digital, Inc operates as a marketing technology company in the United States, Canada, and internationally. The company offers HawkSearch, a site search, recommendation, and personalization application for marketers, merchandisers, and developers; Celebros Search, a commerce-oriented site search product that provides natural language processing with artificial intelligence; and Woorank, a Search Engine Optimization (SEO) audit tool that generates an instant performance audit of the site's technical, on-page, and off-page SEO.