Short Interest in AudioEye, Inc. (NASDAQ:AEYE) Increases By 12.5%

AudioEye, Inc. (NASDAQ:AEYE) was the recipient of a large growth in short interest in June. As of June 15th, there was short interest totalling 607,100 shares, a growth of 12.5% from the May 31st total of 539,500 shares. Based on an average trading volume of 251,400 shares, the days-to-cover ratio is presently 2.4 days. Currently, 10.5% of the company’s stock are short sold.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hillsdale Investment Management Inc. acquired a new stake in AudioEye in the first quarter valued at approximately $137,000. Acadian Asset Management LLC acquired a new stake in shares of AudioEye in the first quarter worth $116,000. Vanguard Group Inc. lifted its stake in shares of AudioEye by 2.3% in the first quarter. Vanguard Group Inc. now owns 309,190 shares of the company’s stock worth $3,095,000 after buying an additional 6,929 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. lifted its stake in shares of AudioEye by 4.0% in the first 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 last quarter. 51.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. HC Wainwright lifted their price target on shares of AudioEye from $17.00 to $23.00 and gave the stock a “buy” rating in a research note on Tuesday, June 25th. Roth Capital upgraded shares of AudioEye to a “strong-buy” rating in a research note on Friday, June 21st. B. Riley lifted their price objective on shares of AudioEye from $14.00 to $18.50 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Craig Hallum lifted their price objective on shares of AudioEye from $10.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Finally, Roth Mkm initiated coverage on shares of AudioEye in a research note on Friday, June 21st. They issued a “buy” rating and a $25.00 price objective on the stock. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, AudioEye currently has an average rating of “Buy” and a consensus target price of $21.63.

AudioEye Stock Performance

Shares of AEYE stock opened at $19.79 on Wednesday. The company’s fifty day simple moving average is $19.86 and its 200-day simple moving average is $11.73. The company has a market cap of $230.36 million, a PE ratio of -50.74 and a beta of 1.08. AudioEye has a 52 week low of $3.75 and a 52 week high of $26.16. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.37.

AudioEye (NASDAQ:AEYE) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.03. AudioEye had a negative net margin of 14.83% and a negative return on equity of 13.59%. The company had revenue of $8.08 million for the quarter, compared to the consensus estimate of $8.04 million. As a group, equities research analysts anticipate that AudioEye will post 0.05 EPS for the current year.

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.