AudioEye, Inc. (NASDAQ:AEYE) Short Interest Update

AudioEye, Inc. (NASDAQ:AEYE) saw a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 680,400 shares, a drop of 9.0% from the October 31st total of 747,700 shares. Currently, 11.1% of the shares of the company are short sold. Based on an average trading volume of 161,700 shares, the days-to-cover ratio is currently 4.2 days.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. HC Wainwright lifted their price objective on AudioEye from $28.00 to $37.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Roth Mkm reaffirmed a “buy” rating and set a $35.00 price objective (up from $25.00) on shares of AudioEye in a report on Friday, November 8th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, AudioEye has an average rating of “Buy” and an average price target of $30.13.

AudioEye Stock Performance

AudioEye stock opened at $27.92 on Tuesday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a fifty day moving average of $24.62 and a two-hundred day moving average of $22.67. The company has a market capitalization of $340.01 million, a price-to-earnings ratio of -99.70, a PEG ratio of 6.15 and a beta of 1.03. AudioEye has a fifty-two week low of $4.01 and a fifty-two week high of $34.85.

Insiders Place Their Bets

In other news, CFO Kelly Georgevich sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $29.00, for a total value 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 $2,580,449. This trade represents a 10.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David Moradi sold 68,298 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $29.48, for a total value of $2,013,425.04. Following the completion of the sale, the chief executive officer now directly owns 2,830,035 shares of the company’s stock, valued at $83,429,431.80. This represents a 2.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 92,859 shares of company stock valued at $2,684,480. 40.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On AudioEye

Several hedge funds have recently bought and sold shares of AEYE. MetLife Investment Management LLC purchased a new stake in shares of AudioEye in the third quarter valued at $54,000. CWM LLC purchased a new stake in AudioEye during the third quarter valued at about $93,000. B. Riley Wealth Advisors Inc. grew its position in AudioEye by 4.0% during the first quarter. B. Riley Wealth Advisors Inc. now owns 12,975 shares of the company’s stock valued at $130,000 after acquiring an additional 500 shares during the period. Palisades Hudson Asset Management L.P. purchased a new stake in AudioEye during the second quarter valued at about $142,000. Finally, Rhumbline Advisers purchased a new stake in AudioEye during the second quarter valued at about $147,000. Hedge funds and other institutional investors own 51.11% of the company’s stock.

AudioEye Company Profile

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.