Bridgeline Digital, Inc. (NASDAQ:BLIN) Sees Significant Growth in Short Interest

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

Bridgeline Digital Stock Performance

Shares of NASDAQ BLIN traded down $0.02 during mid-day trading on Thursday, hitting $1.13. The company had a trading volume of 15,105 shares, compared to its average volume of 66,012. Bridgeline Digital has a 12 month low of $0.69 and a 12 month high of $1.62. The stock has a market cap of $14.24 million, a price-to-earnings ratio of -7.53 and a beta of 1.00. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.67 and a quick ratio of 0.67. The firm’s 50 day simple moving average is $1.14 and its two-hundred day simple moving average is $0.96.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BLIN. Citadel Advisors LLC bought a new position in Bridgeline Digital in the 3rd quarter worth about $41,000. Lido Advisors LLC bought a new stake in shares of Bridgeline Digital during the fourth quarter valued at approximately $48,000. DRW Securities LLC bought a new stake in shares of Bridgeline Digital during the fourth quarter valued at approximately $45,000. Finally, Renaissance Technologies LLC boosted its position in shares of Bridgeline Digital by 8.6% during the first 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. 15.08% of the stock is 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 investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price 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.