AudioEye, Inc. (NASDAQ:AEYE) Sees Large Decrease in Short Interest

AudioEye, Inc. (NASDAQ:AEYE) was the target of a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 747,700 shares, a decrease of 8.4% from the October 15th total of 816,700 shares. Approximately 11.9% of the company’s stock are short sold. Based on an average daily trading volume, of 148,500 shares, the days-to-cover ratio is presently 5.0 days.

AudioEye Price Performance

AEYE stock opened at $25.51 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.92. The firm’s 50-day moving average price is $23.71 and its two-hundred day moving average price is $22.11. The stock has a market capitalization of $310.71 million, a price-to-earnings ratio of -94.48, a PEG ratio of 7.05 and a beta of 1.03. AudioEye has a 12-month low of $3.97 and a 12-month high of $34.85.

Wall Street Analyst Weigh In

AEYE has been the subject of a number of analyst reports. Roth Mkm reaffirmed a “buy” rating and issued a $35.00 price target (up from $25.00) on shares of AudioEye in a report on Friday, November 8th. Craig Hallum raised their target price on AudioEye from $20.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, HC Wainwright upped their price target on AudioEye from $28.00 to $37.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, AudioEye currently has a consensus rating of “Buy” and a consensus target price of $30.13.

Insider Activity at AudioEye

In related news, CFO Kelly Georgevich sold 10,000 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $29.00, for a total transaction of $290,000.00. Following the completion of the sale, the chief financial officer now directly owns 88,981 shares of the company’s stock, valued at approximately $2,580,449. This trade represents a 10.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO David Moradi sold 68,298 shares of AudioEye stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $29.48, for a total value of $2,013,425.04. Following the sale, the chief executive officer now owns 2,830,035 shares in the company, valued at $83,429,431.80. The trade was a 2.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 92,859 shares of company stock valued at $2,684,480. 40.70% of the stock is owned by insiders.

Hedge Funds Weigh In On AudioEye

A number of institutional investors have recently bought and sold shares of the stock. Summit Partners Public Asset Management LLC boosted its holdings in shares of AudioEye by 24.5% during the 3rd quarter. Summit Partners Public Asset Management LLC now owns 515,279 shares of the company’s stock valued at $11,774,000 after buying an additional 101,302 shares in the last quarter. Vanguard Group Inc. boosted its stake in AudioEye by 2.3% during the first quarter. Vanguard Group Inc. now owns 309,190 shares of the company’s stock worth $3,095,000 after acquiring an additional 6,929 shares in the last quarter. Renaissance Technologies LLC grew its holdings in AudioEye by 202.5% in the second quarter. Renaissance Technologies LLC now owns 60,500 shares of the company’s stock worth $1,065,000 after purchasing an additional 40,500 shares during the period. ClariVest Asset Management LLC bought a new position in shares of AudioEye during the second quarter valued at approximately $664,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of AudioEye by 58.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 36,824 shares of the company’s stock valued at $841,000 after purchasing an additional 13,556 shares during the last quarter. 51.11% of the stock is owned by institutional investors.

About AudioEye

AudioEye, Inc provides patented, internet content publication, distribution software, and related services to Internet and other media to people regardless of their device, location, or disabilities in the United States. Its software and services enable conversion of digital content into accessible formats and allows for real time distribution to end users on any Internet connected device.