Brightline Interactive (NASDAQ:BTLN) Sees Significant Decline in Short Interest

Brightline Interactive (NASDAQ:BTLN) saw a large decline in short interest during the month of September. As of September 30th, there was short interest totaling 75,363 shares, a decline of 78.1% from the September 15th total of 344,832 shares. Based on an average daily volume of 42,164 shares, the days-to-cover ratio is currently 1.8 days. Currently, 3.4% of the shares of the stock are sold short.

Hedge Funds Weigh In On Brightline Interactive

A number of hedge funds have recently made changes to their positions in the stock. Susquehanna International Group LLP purchased a new position in Brightline Interactive in the second quarter valued at about $192,000. Valeo Financial Advisors LLC acquired a new stake in shares of Brightline Interactive in the 2nd quarter valued at about $62,000. Finally, FNY Investment Advisers LLC bought a new position in shares of Brightline Interactive during the second quarter worth about $31,000. Institutional investors and hedge funds own 21.41% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Brightline Interactive in a report on Tuesday, September 29th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $20.96.

Brightline Interactive Trading Down 5.8%

Shares of Brightline Interactive stock traded down $0.31 during trading on Monday, reaching $5.07. The company’s stock had a trading volume of 2,440 shares, compared to its average volume of 31,529. Brightline Interactive has a fifty-two week low of $3.36 and a fifty-two week high of $13.99. The firm has a market cap of $13.74 million, a PE ratio of -0.89 and a beta of 1.31. The company has a 50-day moving average price of $6.63 and a two-hundred day moving average price of $5.99.

Brightline Interactive (NASDAQ:BTLN) last released its earnings results on Monday, September 28th. The company reported ($0.63) EPS for the quarter. Brightline Interactive had a negative return on equity of 65.03% and a negative net margin of 218.88%. The firm had revenue of ($3.03) million during the quarter.

Brightline Interactive Company Profile

The Glimpse Group, Inc is a diversified virtual reality and augmented reality technology company that develops, commercializes and invests in immersive technology businesses. Through its subsidiaries, the company provides software, hardware and professional services designed to help organizations use virtual, augmented and mixed reality in business operations, training, education, marketing and other applications.

The company’s portfolio has included businesses focused on enterprise solutions, immersive content, virtual events, 3D visualization, digital twins and related technologies.