Is Bridgeline Digital a Good Tech Stock to Buy? By StockNews
© Reuters. Is Bridgeline Digital a Good Tech Stock to Buy?
Shares of Bridgeline Digital (BLIN) climbed 56% on Friday to close the session at their 52-week high of $ 8.97 following news of an increase in its cash balance over its fiscal year. subscription warrants. However, will the stock continue to gain due to increasing demand for its Celebros solution? Let’s find out. Digital engagement company Bridgeline Digital, Inc. (BLIN) is known for its award-winning Bridgeline Unbound experience management platform, formerly known as iAPPS. The Burlington, Mass., Firm’s stock rose 246.3% over the past month to close Friday’s trading session at its 52-week high at $ 8.97. This 56% rally in the last trading session can be attributed mainly to investor optimism regarding the increase in the company’s cash balance from its warrants. BLIN announced on July 2 that it received more than $ 2.5 million in cash upon the exercise of its warrants, bringing its cash balance to approximately $ 6 million.
The company’s acquisition of WooRank and HawkSearch in 2021 also contributed to its growth, with WooRank driving traffic to websites by helping improve search engine optimization, and HawkSearch increasing online revenue for search sites. e-commerce by increasing conversion and optimizing the search experience for visitors.
However, BLIN incurred losses in its last reported quarter (ended March 31, 2021). In addition, he priced a registered direct offer for gross proceeds of $ 5.1 million, which is expected to result in dilution of the shares. Thus, the short-term outlook for BLIN appears uncertain.
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