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

AudioEye, Inc. (NASDAQ:AEYE) was the recipient of a large decrease in short interest in August. As of August 15th, there was short interest totalling 732,500 shares, a decrease of 8.5% from the July 31st total of 800,800 shares. Approximately 12.2% of the company’s stock are sold short. Based on an average trading volume of 259,800 shares, the short-interest ratio is currently 2.8 days.

AudioEye Stock Performance

NASDAQ:AEYE traded up $0.28 during mid-day trading on Friday, hitting $24.21. 107,820 shares of the company’s stock traded hands, compared to its average volume of 148,490. The firm has a 50 day moving average of $21.54 and a two-hundred day moving average of $16.86. AudioEye has a 12 month low of $3.75 and a 12 month high of $29.30. The firm has a market capitalization of $287.61 million, a price-to-earnings ratio of -62.08, a price-to-earnings-growth ratio of 6.68 and a beta of 1.07. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.39.

AudioEye (NASDAQ:AEYE) last announced its earnings results on Thursday, July 25th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.02. AudioEye had a positive return on equity of 12.34% and a negative net margin of 10.70%. The firm had revenue of $8.47 million during the quarter, compared to the consensus estimate of $8.45 million. On average, equities analysts forecast that AudioEye will post 0.14 earnings per share for the current fiscal year.

Institutional Trading of AudioEye

A number of hedge funds have recently modified their holdings of AEYE. Vanguard Group Inc. lifted its position in shares of AudioEye by 2.3% in the 1st 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 during the period. Acadian Asset Management LLC bought a new stake in shares of AudioEye in the 1st quarter worth approximately $116,000. Hillsdale Investment Management Inc. bought a new position in shares of AudioEye during the 1st quarter worth approximately $137,000. B. Riley Wealth Advisors Inc. lifted its position in shares of AudioEye by 4.0% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 12,975 shares of the company’s stock worth $130,000 after buying an additional 500 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in shares of AudioEye during the 2nd quarter worth approximately $348,000. Institutional investors own 51.11% of the company’s stock.

Analyst Upgrades and Downgrades

AEYE has been the topic of several research reports. Roth Mkm initiated coverage on AudioEye in a research report on Friday, June 21st. They issued a “buy” rating and a $25.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $23.00 target price on shares of AudioEye in a research report on Friday, July 26th. Craig Hallum increased their price objective on AudioEye from $20.00 to $30.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, Roth Capital raised AudioEye to a “strong-buy” rating in a report on Friday, June 21st. 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. Based on data from MarketBeat, AudioEye presently has a consensus rating of “Buy” and an average target price of $24.13.

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.