It Seems Blackline Inc (NASDAQ:BL) Will Go Down. Just Reported More Shorted Shares

April 19, 2018 - By Marie Mckinney

The stock of Blackline Inc (NASDAQ:BL) registered an increase of 27.92% in short interest. BL’s total short interest was 1.39 million shares in April as published by FINRA. Its up 27.92% from 1.09M shares, reported previously. With 857,800 shares average volume, it will take short sellers 2 days to cover their BL’s short positions. The short interest to Blackline Inc’s float is 3.81%.

It closed at $41.25 lastly. It is down 35.71% since April 19, 2017 and is uptrending. It has outperformed by 24.16% the S&P500.

BlackLine, Inc. provides financial accounting close solutions delivered as a Software as a Service in the United States and internationally. The company has market cap of $2.20 billion. The Company’s solutions enables its clients to address various aspects of their financial closing process, including account reconciliations, variance analysis of account balances, and journal entry capabilities, as well as a range of data matching capabilities. It currently has negative earnings. The companyÂ’s solutions comprise reconciliation management solution that consists of account reconciliations, transaction matching, consolidation integrity manager, and daily reconciliations; and a framework for the reconciliation process, which allows users to build integrity checks and automation into the entire end-to-end work flow.

BlackLine, Inc. (NASDAQ:BL) Ratings Coverage

Among 2 analysts covering BlackLine (NASDAQ:BL), 2 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. BlackLine had 2 analyst reports since November 16, 2017 according to SRatingsIntel. The rating was upgraded by JMP Securities to “Market Outperform” on Thursday, November 16. The rating was maintained by KeyBanc Capital Markets with “Overweight” on Friday, November 17.

BlackLine, Inc. (NASDAQ:BL) Ratings Chart

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