Short Interest in AudioEye, Inc. (NASDAQ:AEYE) Rises By 10.6%

AudioEye, Inc. (NASDAQ:AEYE) saw a significant growth in short interest during the month of September. As of September 15th, there was short interest totalling 770,500 shares, a growth of 10.6% from the August 31st total of 696,900 shares. Currently, 12.9% of the company’s stock are short sold. Based on an average daily volume of 221,400 shares, the short-interest ratio is presently 3.5 days.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Roth Mkm began coverage on shares of AudioEye in a research report on Friday, June 21st. They issued a “buy” rating and a $25.00 target price for the company. HC Wainwright restated a “buy” rating and set a $23.00 price objective on shares of AudioEye in a research note on Friday, July 26th. Craig Hallum lifted their target price on AudioEye from $20.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, Roth Capital raised AudioEye to a “strong-buy” rating in a research report on Friday, June 21st. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $24.13.

AudioEye Price Performance

NASDAQ:AEYE opened at $23.66 on Friday. AudioEye has a 12-month low of $3.75 and a 12-month high of $29.30. The firm has a market capitalization of $275.38 million, a price-to-earnings ratio of -60.67, a P/E/G ratio of 6.50 and a beta of 1.00. The stock’s 50 day moving average price is $22.43 and its two-hundred day moving average price is $18.98. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.39.

AudioEye (NASDAQ:AEYE) last posted its earnings results on Thursday, July 25th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $8.45 million. On average, analysts anticipate that AudioEye will post 0.14 earnings per share for the current year.

Hedge Funds Weigh In On AudioEye

Several large investors have recently modified their holdings of AEYE. Vanguard Group Inc. boosted its holdings in shares of AudioEye by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 309,190 shares of the company’s stock worth $3,095,000 after buying an additional 6,929 shares during the period. Renaissance Technologies LLC increased its stake in shares of AudioEye by 202.5% during the second quarter. Renaissance Technologies LLC now owns 60,500 shares of the company’s stock worth $1,065,000 after purchasing an additional 40,500 shares during the period. ClariVest Asset Management LLC acquired a new stake in AudioEye during the 2nd quarter worth approximately $664,000. Acadian Asset Management LLC boosted its stake in AudioEye by 130.6% in the 2nd quarter. Acadian Asset Management LLC now owns 26,939 shares of the company’s stock valued at $473,000 after purchasing an additional 15,256 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in AudioEye during the 2nd quarter worth $348,000. 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.