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

AudioEye, Inc. (NASDAQ:AEYE) was the target of a significant decline in short interest in the month of December. As of December 15th, there was short interest totalling 558,900 shares, a decline of 19.4% from the November 30th total of 693,500 shares. Approximately 7.6% of the company’s shares are sold short. Based on an average trading volume of 232,300 shares, the days-to-cover ratio is presently 2.4 days.

AudioEye Price Performance

NASDAQ AEYE opened at $15.62 on Tuesday. The company has a 50 day moving average price of $22.99 and a two-hundred day moving average price of $22.19. AudioEye has a 12-month low of $4.52 and a 12-month high of $34.85. The stock has a market capitalization of $190.22 million, a PE ratio of -57.85, a price-to-earnings-growth ratio of 4.29 and a beta of 1.00. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.92.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AEYE. HC Wainwright upped their price objective on shares of AudioEye from $28.00 to $37.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Roth Mkm reaffirmed a “buy” rating and issued a $35.00 price target (up from $25.00) on shares of AudioEye in a research note on Friday, November 8th. Four research 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, the company presently has an average rating of “Buy” and a consensus target price of $30.13.

Insider Activity

In other news, CFO Kelly Georgevich sold 10,000 shares of AudioEye stock in a transaction 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 transaction, the chief financial officer now owns 88,981 shares in the company, valued at approximately $2,580,449. The trade was a 10.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jamil A. Tahir sold 125,000 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $24.00, for a total value of $3,000,000.00. Following the completion of the sale, the director now directly owns 195,000 shares of the company’s stock, valued at approximately $4,680,000. This represents a 39.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,342,859 shares of company stock worth $32,684,480 over the last 90 days. 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 the business. Summit Partners Public Asset Management LLC lifted its position in shares of AudioEye by 24.5% in the third quarter. Summit Partners Public Asset Management LLC now owns 515,279 shares of the company’s stock worth $11,774,000 after buying an additional 101,302 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in AudioEye by 202.5% in the 2nd 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 last quarter. ClariVest Asset Management LLC bought a new stake in AudioEye during the second quarter worth approximately $664,000. Bank of New York Mellon Corp acquired a new position in AudioEye during the second quarter valued at approximately $348,000. Finally, GSA Capital Partners LLP bought a new position in shares of AudioEye in the third quarter valued at approximately $416,000. 51.11% of the stock is owned by institutional investors and hedge funds.

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.