Bridgeline Digital (NASDAQ:BLIN) Stock Price Passes Above 50-Day Moving Average – Here’s Why

Bridgeline Digital, Inc. (NASDAQ:BLIN)’s share price passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $1.06 and traded as high as $1.39. Bridgeline Digital shares last traded at $1.29, with a volume of 244,764 shares traded.

Bridgeline Digital Stock Performance

The firm has a market capitalization of $16.25 million, a P/E ratio of -8.60 and a beta of 1.00. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.01. The business’s 50 day simple moving average is $1.06 and its two-hundred day simple moving average is $0.93.

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

Hedge Funds Weigh In On Bridgeline Digital

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BLIN. Citadel Advisors LLC purchased a new stake in Bridgeline Digital during the 3rd quarter valued at $41,000. DRW Securities LLC purchased a new position in shares of Bridgeline Digital in the fourth quarter worth $45,000. Lido Advisors LLC bought a new position in shares of Bridgeline Digital during the fourth quarter valued at $48,000. 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 valued at $127,000 after buying an additional 12,600 shares during the last quarter. 15.08% of the stock is owned by institutional investors.

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.