AudioEye, Inc. (NASDAQ:AEYE) Sees Significant Growth in Short Interest

AudioEye, Inc. (NASDAQ:AEYE) was the recipient of a large increase in short interest during the month of September. As of September 30th, there was short interest totalling 831,100 shares, an increase of 7.9% from the September 15th total of 770,500 shares. Approximately 13.9% of the company’s shares are sold short. Based on an average trading volume of 184,400 shares, the days-to-cover ratio is presently 4.5 days.

Institutional Investors Weigh In On AudioEye

Large investors have recently modified their holdings of the company. CWM LLC purchased a new stake in shares of AudioEye during the 3rd quarter worth $93,000. Palisades Hudson Asset Management L.P. purchased a new stake in AudioEye during the 2nd quarter worth about $142,000. Rhumbline Advisers acquired a new position in shares of AudioEye during the 2nd quarter worth about $147,000. Acadian Asset Management LLC purchased a new position in shares of AudioEye in the 1st quarter valued at about $116,000. Finally, Total Clarity Wealth Management Inc. acquired a new stake in shares of AudioEye during the 2nd quarter worth about $221,000. 51.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AEYE has been the subject of several research reports. HC Wainwright lifted their target price on shares of AudioEye from $23.00 to $28.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Craig Hallum boosted 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. Roth Capital raised AudioEye to a “strong-buy” rating in a research note on Friday, June 21st. Finally, Roth Mkm assumed coverage on AudioEye in a research report on Friday, June 21st. They issued a “buy” rating and a $25.00 target price for the company. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $25.38.

AudioEye Stock Up 1.0 %

Shares of NASDAQ AEYE opened at $25.57 on Thursday. AudioEye has a 12-month low of $3.75 and a 12-month high of $29.30. The stock has a market cap of $297.61 million, a P/E ratio of -65.56, a PEG ratio of 6.18 and a beta of 1.00. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.39. The business’s fifty day simple moving average is $22.56 and its 200-day simple moving average is $20.19.

AudioEye (NASDAQ:AEYE) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.04 earnings per share (EPS) 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 business had revenue of $8.47 million during the quarter, compared to analysts’ expectations of $8.45 million. As a group, equities analysts predict that AudioEye will post 0.14 EPS for the current fiscal year.

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.