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

Bridgeline Digital, Inc. (NASDAQ:BLIN) was the target of a significant decline in short interest during the month of September. As of September 30th, there was short interest totaling 23,615 shares, a decline of 45.9% from the September 15th total of 43,646 shares. Currently, 0.3% of the company’s shares are sold short. Based on an average daily trading volume, of 17,445 shares, the short-interest ratio is presently 1.4 days.

Institutional Investors Weigh In On Bridgeline Digital

Several hedge funds have recently bought and sold shares of BLIN. Bard Associates Inc. acquired a new position in shares of Bridgeline Digital in the 2nd quarter valued at $1,195,000. Renaissance Technologies LLC increased its position in shares of Bridgeline Digital by 8.6% in the 1st quarter. Renaissance Technologies LLC now owns 158,729 shares of the software maker’s stock valued at $127,000 after buying an additional 12,600 shares in the last quarter. Finally, Lido Advisors LLC increased its position in shares of 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 buying an additional 21,353 shares in the last quarter. 15.08% of the stock is currently 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 note on Friday. One 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 MarketBeat.com, Bridgeline Digital presently has a consensus rating of “Hold” and a consensus target price of $4.62.

Bridgeline Digital Trading Up 1.3%

Shares of BLIN stock traded up $0.01 on Wednesday, reaching $0.77. The company had a trading volume of 1,969 shares, compared to its average volume of 62,844. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.01. The stock has a market cap of $9.64 million, a PE ratio of -6.38 and a beta of 0.92. The company has a 50-day moving average of $0.92 and a 200-day moving average of $1.00. Bridgeline Digital has a 12 month low of $0.69 and a 12 month high of $1.45.

Bridgeline Digital (NASDAQ:BLIN) last released its quarterly earnings data on Thursday, August 13th. The software maker reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.02). The firm had revenue of $3.92 million for the quarter, compared to the consensus estimate of $4.70 million. Bridgeline Digital had a negative return on equity of 14.51% and a negative net margin of 8.65%.

Bridgeline Digital Company Profile

Bridgeline Digital, Inc is a software company that provides digital experience and e-commerce solutions to businesses seeking to improve online customer engagement, product discovery and sales. Its offerings are delivered primarily through cloud-based software and are designed for organizations operating websites, online stores and other digital channels.

The company’s product portfolio includes HawkSearch, an AI-powered site search and merchandising platform that helps businesses deliver relevant search results, recommendations and personalized shopping experiences.