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

Bridgeline Digital, Inc. (NASDAQ:BLIN) was the recipient of a significant growth in short interest during 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. Based on an average trading volume of 219,779 shares, the short-interest ratio is currently 0.5 days. Approximately 1.0% of the company’s shares are short sold.

Institutional Investors Weigh In On Bridgeline Digital

Hedge funds have recently added to or reduced their stakes in the business. Citadel Advisors LLC purchased a new position in Bridgeline Digital in the 3rd quarter valued at approximately $41,000. DRW Securities LLC purchased a new stake in shares of Bridgeline Digital during the fourth quarter worth $45,000. Lido Advisors LLC acquired a new stake in shares of Bridgeline Digital in the fourth quarter valued at $48,000. Finally, Renaissance Technologies LLC boosted its holdings in Bridgeline Digital by 8.6% in the first quarter. Renaissance Technologies LLC now owns 158,729 shares of the software maker’s stock valued at $127,000 after purchasing an additional 12,600 shares during the period. 15.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Bridgeline Digital in a research report on Monday, July 13th. 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $4.62.

Bridgeline Digital Trading Up 1.7%

BLIN traded up $0.02 during mid-day trading on Tuesday, hitting $1.19. 14,469 shares of the stock were exchanged, compared to its average volume of 66,189. The firm’s fifty day moving average is $1.13 and its two-hundred day moving average is $0.96. Bridgeline Digital has a 1-year low of $0.69 and a 1-year high of $1.63. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.01. The company has a market cap of $14.99 million, a PE ratio of -7.93 and a beta of 1.00.

Bridgeline Digital (NASDAQ:BLIN) last announced its earnings results on Thursday, May 14th. The software maker reported ($0.04) 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 net margin of 10.75% and a negative return on equity of 17.46%.

Bridgeline Digital Company Profile

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.