With the current price of $2.05, the stock of Bridgeline Digital, Inc. (NASDAQ:BLIN) concluded the trading session seeing its price rise by 0.08 points or at a gain of 4.06% compared to its previous day’s closing price of $1.97. About 2.422 million shares of the stock changed hands on the day. The trading volume of BLIN’s shares during the past session compares with the stock’s average daily trading volume of 0.746 million shares. On the other hand, a float of 4.36 million shares and a weekly performance of -28.32% make the stock worth to keep an eye on. Analysts are in agreement on an annual target price of $0 for BLIN’s share which suggests that the stock, price of which is currently buoying between $1.94 and $2.4699, is prone to a loss of -100%. But still, there are some analysts recommending a price below the agreed average price and one of them has given a target price of $210 to the stock.
The latest data released on July 31, 2020 shows that the short float in the Bridgeline Digital, Inc.’s stock is trending upward as short interest in BLIN shares climbed up leaving more number of shares available to public for trading. Number of shares shorted in the BLIN is currently comprised of 1.15% of the float as the volume of shorted shares inclined by 17757 shares. Over the past two weeks, stock’s short interests weakened as number of shorted shares increased to 50309 shares from the previous figure of 32552 shares. Stock’s average intraday volume is now standing at 1.052 million shares which indicate that the days to cover the shorts are nearly 1.
After concluding the day’s trading, price of Bridgeline Digital, Inc. (NASDAQ:BLIN) is down -$0.81 over the week and it is -$0.12 below20-day average price. The highest price touched by the stock on the day was lower than 52-week high price of $3.62 that was attained on 08/03/20.
The stock has traded as low as $0.53 in past 52-week, and its current price is 285.12% above from that 52-week low price mark recorded on 03/18/20, which is an indicator that could increase the investors’ motivation level in taking advantage of price surge the stock has currently been going through. Stock currently has its beta at 3.08. A beta value of more than 1 represents higher volatility of a stock than that of the market and for the reason investors closely watch the behavior of such stock.
Current indicators are pointing at 43.8 as 14-days RSI of Bridgeline Digital, Inc. This means that the BLIN is currently in a neutral territory and its share’s price movement is likely to be steady for a while. Similarly, the stochastic oscillator is indicating a momentum of 14.93%, implying stock’s share price is buoying in an overbought state.
Technical chart is showing 1st resistance point of $2.37 for the BLIN’s share while placing it at a 2nd resistance point of $2.68 to be settled at. But if the stock takes a plunge lower than the 1st support price of $1.84 then its market would become weakened. And that would likely sliding the stock price down to 2nd support price level of $1.62.
MACD oscillator is showing a reading of -0.36 for the stock which means that it is currently in the red zone. Any movement above or below the zero level of the indicator has always being noticed by the investors as it makes them compare the stock’s average measure in short-term with that in the long-term. An MACD evaluation of more than zero means that stock has a stronger short-term average than long-term average, which implies that stock’s price is likely to climb up. But an MACD below zero indicates weaker short-term average compare to the long-term average.
A quick look at other side of the picture shows that BLIN stock is lagging behind earnings per share estimates with a current price-to-sales (P/S) ratio of 0.6 is in front of industry’s average P/S ratio of 38.6. A comparison of Bridgeline Digital, Inc.’s trailing 12-months P/E ratio of 2.8 implies that it is trading above the industry’s average P/E ratio, which currently is 13.