Bridgeline Digital, Inc. (NASDAQ:BLIN) Short Interest Up 112.5% in March

Bridgeline Digital, Inc. (NASDAQ:BLIN) saw a large increase in short interest in March. As of March 15th, there was short interest totalling 122,200 shares, an increase of 112.5% from the February 28th total of 57,500 shares. Currently, 1.5% of the company’s stock are short sold. Based on an average trading volume of 196,100 shares, the days-to-cover ratio is currently 0.6 days.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on BLIN shares. Westpark Capital raised shares of Bridgeline Digital from a “hold” rating to a “buy” rating and set a $4.62 price target for the company in a research report on Friday, February 14th. StockNews.com upgraded shares of Bridgeline Digital from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th.

Bridgeline Digital Price Performance

BLIN opened at $1.47 on Friday. The stock has a fifty day moving average price of $1.62 and a 200 day moving average price of $1.41. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.02. Bridgeline Digital has a 1 year low of $0.76 and a 1 year high of $2.80. The stock has a market cap of $15.35 million, a price-to-earnings ratio of -7.74 and a beta of 1.85.

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%. Analysts forecast that Bridgeline Digital will post -0.15 EPS for the current fiscal year.

Institutional Trading of Bridgeline Digital

A number of institutional investors have recently added to or reduced their stakes in BLIN. Geode Capital Management LLC raised its holdings in shares of Bridgeline Digital by 33.8% during the 4th quarter. Geode Capital Management LLC now owns 90,340 shares of the software maker’s stock valued at $143,000 after purchasing an additional 22,806 shares in the last quarter. Renaissance Technologies LLC increased its position in 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 during the last quarter. Finally, Jane Street Group LLC acquired a new position in Bridgeline Digital during the fourth quarter worth $31,000. 15.08% of the stock is currently owned by institutional investors and hedge funds.

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.