Short Interest in Bridgeline Digital, Inc. (NASDAQ:BLIN) Increases By 114.8%

Bridgeline Digital, Inc. (NASDAQ:BLIN) was the recipient of a significant growth in short interest in the month of July. As of July 15th, there was short interest totaling 99,861 shares, a growth of 114.8% from the June 30th total of 46,481 shares. Approximately 1.0% of the shares of the company are short sold. Based on an average trading volume of 219,779 shares, the days-to-cover ratio is presently 0.5 days.

Bridgeline Digital Stock Performance

Shares of NASDAQ:BLIN traded up $0.02 during trading on Tuesday, hitting $1.19. 14,469 shares of the stock traded hands, compared to its average volume of 66,189. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.01. The company has a fifty day moving average price of $1.13 and a two-hundred day moving average price of $0.96. Bridgeline Digital has a 52-week low of $0.69 and a 52-week high of $1.63. The company has a market cap of $14.99 million, a price-to-earnings ratio of -7.93 and a beta of 1.00.

Bridgeline Digital (NASDAQ:BLIN) last announced its quarterly earnings results on Thursday, May 14th. The software maker reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.03). The firm had revenue of $3.92 million for the quarter, compared to analysts’ expectations of $4.55 million. Bridgeline Digital had a negative return on equity of 17.46% and a negative net margin of 10.75%.

Institutional Trading of Bridgeline Digital

Several institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC raised its stake in shares of Bridgeline Digital by 8.6% during the 1st quarter. Renaissance Technologies LLC now owns 158,729 shares of the software maker’s stock worth $127,000 after buying an additional 12,600 shares during the period. Lido Advisors LLC grew its stake in Bridgeline Digital by 37.1% in the 1st quarter. Lido Advisors LLC now owns 78,973 shares of the software maker’s stock valued at $63,000 after acquiring an additional 21,353 shares during the period. Citadel Advisors LLC purchased a new stake in Bridgeline Digital in the 3rd quarter worth $41,000. Finally, DRW Securities LLC acquired a new position in shares of Bridgeline Digital during the 4th quarter worth about $45,000. 15.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Bridgeline Digital in a research report on Monday, July 13th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Bridgeline Digital currently has an average rating of “Hold” and a consensus price target 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.