Bridgeline Digital (NASDAQ:BLIN) Stock Breaks Below Two Hundred Day Moving Average – Here’s Why

Bridgeline Digital, Inc. (NASDAQ:BLIN) shares crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $1.01 and traded as low as $0.8117. Bridgeline Digital shares last traded at $0.8380, with a volume of 8,775 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Bridgeline Digital in a research note on Monday, July 13th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $4.62.

Bridgeline Digital Trading Down 2.3%

The company has a market cap of $10.18 million, a price-to-earnings ratio of -6.73 and a beta of 0.92. 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 business’s 50 day moving average price is $0.98 and its 200-day moving average price is $1.01.

Bridgeline Digital (NASDAQ:BLIN) last released its quarterly earnings results 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). Bridgeline Digital had a negative net margin of 8.65% and a negative return on equity of 14.51%. The company had revenue of $3.92 million during the quarter, compared to the consensus estimate of $4.70 million.

Institutional Trading of Bridgeline Digital

Hedge funds have recently added to or reduced their stakes in the company. Bard Associates Inc. bought a new position in Bridgeline Digital during the 2nd quarter worth $1,195,000. Lido Advisors LLC boosted its position in shares of Bridgeline Digital by 37.1% in the first 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. Finally, Renaissance Technologies LLC boosted its position in shares of 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 acquiring an additional 12,600 shares during the period. 15.08% of the stock is owned by institutional investors and hedge funds.

About Bridgeline Digital

Bridgeline Digital, Inc is a software company that provides cloud-based digital experience and e-commerce solutions. Its products are designed to help businesses improve website search, product discovery, content management, personalization, and digital marketing across online channels.

The company’s product portfolio includes HawkSearch, an artificial intelligence-powered site search and merchandising platform, as well as solutions for content management, marketing automation, personalization, and e-commerce optimization.