AudioEye, Inc. (NASDAQ:AEYE) Short Interest Update

AudioEye, Inc. (NASDAQ:AEYE) was the recipient of a significant decline in short interest in the month of July. As of July 31st, there was short interest totalling 800,800 shares, a decline of 10.5% from the July 15th total of 894,400 shares. Currently, 13.6% of the company’s shares are sold short. Based on an average daily volume of 276,900 shares, the days-to-cover ratio is presently 2.9 days.

AudioEye Stock Down 2.1 %

Shares of NASDAQ AEYE traded down $0.49 during trading on Friday, reaching $22.33. 106,840 shares of the stock were exchanged, compared to its average volume of 187,076. The business’s 50-day moving average price is $20.82 and its 200 day moving average price is $15.52. AudioEye has a twelve month low of $3.75 and a twelve month high of $29.30. The company has a quick ratio of 1.13, a current ratio of 1.16 and a debt-to-equity ratio of 1.39. The company has a market capitalization of $259.90 million, a price-to-earnings ratio of -57.26, a price-to-earnings-growth ratio of 6.54 and a beta of 1.07.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC bought a new position in shares of AudioEye during the first quarter worth about $116,000. B. Riley Wealth Advisors Inc. lifted 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 last quarter. Hillsdale Investment Management Inc. acquired a new position in shares of AudioEye in the 1st quarter worth approximately $137,000. Palisades Hudson Asset Management L.P. acquired a new position in shares of AudioEye in the 2nd quarter worth approximately $142,000. Finally, Rhumbline Advisers bought a new stake in shares of AudioEye in the 2nd quarter valued at approximately $147,000. 51.11% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AEYE has been the topic of a number of recent research reports. Roth Capital raised shares of AudioEye to a “strong-buy” rating in a research report on Friday, June 21st. HC Wainwright reaffirmed a “buy” rating and set a $23.00 price target on shares of AudioEye in a research report on Friday, July 26th. Craig Hallum lifted 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. B. Riley lifted their price target on shares of AudioEye from $14.00 to $18.50 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Finally, Roth Mkm initiated coverage on shares of AudioEye in a research report on Friday, June 21st. They set a “buy” rating and a $25.00 price target on the stock. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $24.13.

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.