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

Bridgeline Digital, Inc. (NASDAQ:BLIN) was the recipient of a large drop in short interest during the month of 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 trading volume of 215,700 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.7% of the shares of the stock are sold short.

Bridgeline Digital Price Performance

BLIN opened at $1.43 on Wednesday. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $14.93 million, a P/E ratio of -7.53 and a beta of 1.85. The stock has a 50-day moving average price of $1.68 and a 200-day moving average price of $1.38. Bridgeline Digital has a 12-month low of $0.76 and a 12-month high of $2.80.

Bridgeline Digital (NASDAQ:BLIN) last issued its earnings results on Thursday, February 13th. The software maker reported ($0.06) earnings per share (EPS) 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 predict that Bridgeline Digital will post -0.15 earnings per share for the current fiscal year.

Institutional Trading of Bridgeline Digital

Several hedge funds have recently added to or reduced their stakes in BLIN. Jane Street Group LLC bought a new position in shares of Bridgeline Digital during the fourth quarter valued at about $31,000. Renaissance Technologies LLC grew its position in Bridgeline Digital by 27.7% during the 4th quarter. Renaissance Technologies LLC now owns 130,904 shares of the software maker’s stock worth $207,000 after acquiring an additional 28,375 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Bridgeline Digital by 33.8% in the 4th quarter. Geode Capital Management LLC now owns 90,340 shares of the software maker’s stock worth $143,000 after purchasing an additional 22,806 shares during the period. 15.08% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BLIN. Westpark Capital upgraded shares of Bridgeline Digital from a “hold” rating to a “buy” rating and set a $4.62 price objective on the stock in a research report on Friday, February 14th. StockNews.com upgraded shares of Bridgeline Digital from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th.

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.