Next time someone tells you Apps don’t make money, show them this. Bridgeline Digital, Inc. (Nasdaq: BLIN) stock set a new 52 week high today after announcing a multi-year agreement with United Parcel Service, Inc. (NYSE: UPS) to offer B2B and B2C eCommerce web stores. BLIN stock traded as high as $3.24 earlier today, a gain of 114.57%, before settling down to its current level up just 48.34% at $2.24 on volume 22X the 3 month average.
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BLIN Stock Chart
Market Cap (intraday): 29.39M
Price/Sales (ttm): 0.72
Price/Book (mrq): 0.92
(Jun 4, 2012): 1.51
(Oct 24, 2011): 0.47
50-Day Moving Avg: 1.37
200-Day Moving Avg: 0.94
Avg Vol (3 month): 56,048
Avg Vol (10 day): 11,180
Shares Outstanding: 12.61M
% Held by Insiders: 32.04%
% Held by Institutions: 9.60%
Yesterday, Bridgeline acquired MarketNet for $1.2M, in a combination of cash, common stock, and earn-out consideration based on certain future financial performance, expanding its North American presence and building the iAPPS distribution network into the South Central U.S, marketplace.
About BLIN Stock
Bridgeline Digital is developer of the award-winning iAPPS Web Engagement Platform and related interactive solutions.
Bottom Line: This is just the beginning for BLIN as the penny stock is due to see substantial increases to its upcoming quarterly revenues once the B2B and B2C eCommerce web stores come online. It would not be a surprise to start seeing Wall Street analysts initiating coverage on the penny stock of Bridgeline Digital (BLIN) in the near future.
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