Bridgeline Digital (NASDAQ:BLIN) Share Price Passes Above 200 Day Moving Average – Here’s Why

Bridgeline Digital, Inc. (NASDAQ:BLIN) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.53 and traded as high as $2.00. Bridgeline Digital shares last traded at $1.91, with a volume of 28,967 shares changing hands.

Wall Street Analyst Weigh In

BLIN has been the subject of several research reports. StockNews.com initiated coverage on Bridgeline Digital in a report on Thursday. They set a “buy” rating for the company. Westpark Capital raised Bridgeline Digital from a “hold” rating to a “buy” rating and set a $4.62 price target for the company in a report on Friday, February 14th.

Bridgeline Digital Stock Up 2.4%

The firm has a fifty day simple moving average of $1.62 and a 200-day simple moving average of $1.53. The firm has a market cap of $19.90 million, a price-to-earnings ratio of -10.03 and a beta of 1.18. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.62 and a current ratio of 0.62.

Bridgeline Digital (NASDAQ:BLIN) last announced its quarterly 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 net margin of 12.82% and a negative return on equity of 15.38%. As a group, sell-side analysts expect that Bridgeline Digital, Inc. will post -0.15 EPS for the current year.

Institutional Investors Weigh In On Bridgeline Digital

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Bard Associates Inc. acquired a new stake in shares of Bridgeline Digital during the first quarter worth $1,949,000. Renaissance Technologies LLC lifted its holdings in shares of Bridgeline Digital by 27.7% during the fourth quarter. Renaissance Technologies LLC now owns 130,904 shares of the software maker’s stock worth $207,000 after buying an additional 28,375 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Bridgeline Digital by 33.8% in the fourth 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. Jane Street Group LLC bought a new position in shares of Bridgeline Digital in the fourth quarter worth $31,000. Finally, XTX Topco Ltd bought a new position in shares of Bridgeline Digital in the first quarter worth $26,000. Institutional investors and hedge funds own 15.08% of the company’s stock.

About Bridgeline Digital

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.