Bridgeline Digital, Inc. (NASDAQ:BLIN) Shares Shorted: Short Interest Down 45.9% in September

Bridgeline Digital, Inc. (NASDAQ:BLIN) was the target of a significant decline in short interest in 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. Approximately 0.3% of the company’s stock are sold short. Based on an average daily volume of 17,445 shares, the days-to-cover ratio is currently 1.4 days.

Bridgeline Digital Stock Performance

Bridgeline Digital stock traded up $0.03 during mid-day trading on Friday, reaching $0.76. The company’s stock had a trading volume of 8,989 shares, compared to its average volume of 62,412. The company has a market capitalization of $9.51 million, a P/E ratio of -6.29 and a beta of 0.92. Bridgeline Digital has a 12-month low of $0.69 and a 12-month high of $1.42. The firm’s fifty day moving average price is $0.91 and its two-hundred day moving average price is $1.00. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.61 and a current ratio of 0.61.

Bridgeline Digital (NASDAQ:BLIN) last announced its quarterly earnings data on Thursday, August 13th. The software maker reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $3.92 million for the quarter, compared to analysts’ expectations of $4.70 million.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Bridgeline Digital in a research note on Friday, October 9th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Bridgeline Digital has a consensus rating of “Hold” and a consensus target price of $4.62.

Hedge Funds Weigh In On 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 in the second quarter valued at about $1,195,000. Renaissance Technologies LLC lifted its position in Bridgeline Digital by 8.6% during 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 last quarter. Finally, Lido Advisors LLC boosted its stake in Bridgeline Digital by 37.1% during the first quarter. Lido Advisors LLC now owns 78,973 shares of the software maker’s stock worth $63,000 after buying an additional 21,353 shares during the period. 15.08% of the stock is currently owned by hedge funds and other institutional investors.

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.