Short Interest in AudioEye, Inc. (NASDAQ:AEYE) Decreases By 9.0%

AudioEye, Inc. (NASDAQ:AEYE) was the target of a large decline in short interest in November. As of November 15th, there was short interest totalling 680,400 shares, a decline of 9.0% from the October 31st total of 747,700 shares. Currently, 11.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 161,700 shares, the days-to-cover ratio is currently 4.2 days.

Insider Activity at AudioEye

In other AudioEye news, CFO Kelly Georgevich sold 10,000 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $29.00, for a total transaction of $290,000.00. Following the sale, the chief financial officer now directly owns 88,981 shares of the company’s stock, valued at approximately $2,580,449. This represents a 10.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David Moradi sold 68,298 shares of AudioEye stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $29.48, for a total transaction of $2,013,425.04. Following the completion of the transaction, the chief executive officer now owns 2,830,035 shares of the company’s stock, valued at $83,429,431.80. This trade represents a 2.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 92,859 shares of company stock valued at $2,684,480 in the last 90 days. 40.70% of the stock is owned by corporate insiders.

Institutional Trading of AudioEye

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. lifted its stake in shares of AudioEye by 4.0% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 12,975 shares of the company’s stock valued at $130,000 after purchasing an additional 500 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of AudioEye by 7.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 22,361 shares of the company’s stock worth $511,000 after buying an additional 1,477 shares during the period. MetLife Investment Management LLC bought a new stake in shares of AudioEye in the 3rd quarter valued at about $54,000. Barclays PLC raised its position in shares of AudioEye by 37.7% in the 3rd quarter. Barclays PLC now owns 10,181 shares of the company’s stock valued at $233,000 after acquiring an additional 2,788 shares during the period. Finally, CWM LLC bought a new position in AudioEye during the 3rd quarter worth approximately $93,000. 51.11% of the stock is owned by institutional investors.

AudioEye Trading Down 7.6 %

AEYE stock opened at $25.80 on Wednesday. The business has a fifty day moving average of $24.75 and a 200-day moving average of $22.75. The company has a market cap of $314.24 million, a P/E ratio of -95.56, a PEG ratio of 6.38 and a beta of 1.00. AudioEye has a twelve month low of $4.01 and a twelve month high of $34.85. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.92.

Analysts Set New Price Targets

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