AudioEye, Inc. (NASDAQ:AEYE) Sees Large Decline in Short Interest

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

Insider Transactions at AudioEye

In other news, Director Jamil A. Tahir sold 125,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $24.00, for a total transaction of $3,000,000.00. Following the transaction, the director now owns 195,000 shares in the company, valued at $4,680,000. This represents a 39.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Kelly Georgevich sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were 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 $2,580,449. The trade was a 10.10 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,342,859 shares of company stock valued at $32,684,480. 40.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AudioEye

Large investors have recently added to or reduced their stakes in the stock. MetLife Investment Management LLC purchased a new stake in shares of AudioEye during the third quarter worth about $54,000. CWM LLC purchased a new stake in AudioEye during the 3rd quarter worth approximately $93,000. Palisades Hudson Asset Management L.P. purchased a new position in AudioEye in the 2nd quarter worth approximately $142,000. Rhumbline Advisers purchased a new stake in AudioEye in the 2nd quarter valued at $147,000. Finally, Total Clarity Wealth Management Inc. purchased a new stake in shares of AudioEye in the second quarter valued at about $221,000. 51.11% of the stock is currently owned by institutional investors and hedge funds.

AudioEye Price Performance

Shares of AudioEye stock traded down $0.63 during trading hours on Monday, reaching $15.48. The stock had a trading volume of 33,968 shares, compared to its average volume of 195,605. AudioEye has a twelve month low of $4.52 and a twelve month high of $34.85. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $188.52 million, a PE ratio of -57.33, a PEG ratio of 4.29 and a beta of 1.00. The stock’s 50 day moving average is $22.99 and its 200 day moving average is $22.18.

Analyst Upgrades and Downgrades

AEYE has been the topic of a number of research reports. HC Wainwright increased their price objective on shares of AudioEye from $28.00 to $37.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Roth Mkm restated a “buy” rating and issued a $35.00 target price (up previously from $25.00) on shares of AudioEye in a research note on Friday, November 8th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, AudioEye currently has a consensus rating of “Buy” and an average price target of $30.13.

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.