Short Interest in AudioEye, Inc. (NASDAQ:AEYE) Declines By 8.4%

AudioEye, Inc. (NASDAQ:AEYE) was the target of a significant decline in short interest in October. As of October 31st, there was short interest totalling 747,700 shares, a decline of 8.4% from the October 15th total of 816,700 shares. Approximately 11.9% of the shares of the stock are sold short. Based on an average daily volume of 148,500 shares, the short-interest ratio is currently 5.0 days.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Craig Hallum upped their price target on shares of AudioEye from $20.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Roth Mkm reaffirmed a “buy” rating and set a $35.00 price target (up previously from $25.00) on shares of AudioEye in a research report on Friday, November 8th. Finally, HC Wainwright upped their price target on shares of AudioEye from $28.00 to $37.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, AudioEye presently has a consensus rating of “Buy” and an average price target of $30.13.

AudioEye Trading Down 2.5 %

Shares of AEYE stock opened at $25.51 on Monday. The company has a 50 day moving average of $23.71 and a 200-day moving average of $22.16. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.92. AudioEye has a 12-month low of $3.97 and a 12-month high of $34.85. The firm has a market cap of $310.71 million, a P/E ratio of -94.48, a PEG ratio of 6.80 and a beta of 1.03.

Insider Buying and Selling at AudioEye

In related news, CFO Kelly Georgevich sold 10,000 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $29.00, for a total value of $290,000.00. Following the completion of the sale, the chief financial officer now directly owns 88,981 shares in the company, valued at $2,580,449. This represents a 10.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO David Moradi sold 68,298 shares of the stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $29.48, for a total value of $2,013,425.04. Following the completion of the sale, the chief executive officer now owns 2,830,035 shares of the company’s stock, valued at $83,429,431.80. The trade was a 2.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 92,859 shares of company stock worth $2,684,480 over the last three months. Corporate insiders own 40.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Acadian Asset Management LLC bought a new position in shares of AudioEye in the first quarter worth $116,000. ClariVest Asset Management LLC bought a new position in AudioEye in the 2nd quarter worth about $664,000. Renaissance Technologies LLC increased its stake in AudioEye by 202.5% in the 2nd quarter. Renaissance Technologies LLC now owns 60,500 shares of the company’s stock worth $1,065,000 after acquiring an additional 40,500 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of AudioEye by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 309,190 shares of the company’s stock valued at $3,095,000 after acquiring an additional 6,929 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted 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 valued at $130,000 after acquiring an additional 500 shares during the last quarter. 51.11% of the stock is owned by institutional investors.

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.