Short Interest in AudioEye, Inc. (NASDAQ:AEYE) Rises By 10.6%

AudioEye, Inc. (NASDAQ:AEYE) was the target of a significant growth in short interest in the month of September. As of September 15th, there was short interest totalling 770,500 shares, a growth of 10.6% from the August 31st total of 696,900 shares. Based on an average trading volume of 221,400 shares, the days-to-cover ratio is presently 3.5 days. Approximately 12.9% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on AEYE shares. HC Wainwright restated a “buy” rating and set a $23.00 price objective on shares of AudioEye in a report on Friday, July 26th. Roth Mkm assumed coverage on AudioEye in a report on Friday, June 21st. They issued a “buy” rating and a $25.00 price target for the company. Craig Hallum lifted their price objective on AudioEye from $20.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, Roth Capital upgraded AudioEye to a “strong-buy” rating in a research note on Friday, June 21st. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $24.13.

AudioEye Trading Up 1.3 %

Shares of AEYE opened at $23.66 on Friday. The stock has a fifty day moving average price of $22.43 and a two-hundred day moving average price of $18.98. The company has a market cap of $275.38 million, a price-to-earnings ratio of -60.67, a PEG ratio of 6.50 and a beta of 1.00. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.16 and a current ratio of 1.16. AudioEye has a 52-week low of $3.75 and a 52-week high of $29.30.

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

Institutional Investors Weigh In On AudioEye

Several large investors have recently bought and sold shares of the company. Acadian Asset Management LLC acquired a new stake in shares of AudioEye during the first quarter worth about $116,000. B. Riley Wealth Advisors Inc. raised its holdings in 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. Hillsdale Investment Management Inc. bought a new position in AudioEye in the first quarter valued at approximately $137,000. Palisades Hudson Asset Management L.P. acquired a new position in shares of AudioEye in the second quarter valued at approximately $142,000. Finally, Rhumbline Advisers bought a new stake in shares of AudioEye during the second quarter worth $147,000. 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.