AudioEye, Inc. (NASDAQ:AEYE) Short Interest Down 19.4% in December

AudioEye, Inc. (NASDAQ:AEYE) was the target of a large drop in short interest during the month of December. As of December 15th, there was short interest totalling 558,900 shares, a drop 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 shares of the company are sold short.

AudioEye Stock Down 7.3 %

Shares of AEYE opened at $16.11 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.92. The company has a 50-day moving average price of $22.99 and a two-hundred day moving average price of $22.18. The stock has a market cap of $196.19 million, a price-to-earnings ratio of -59.67, a P/E/G ratio of 4.29 and a beta of 1.00. AudioEye has a 12 month low of $4.52 and a 12 month high of $34.85.

Insider Activity at AudioEye

In other AudioEye news, CEO David Moradi sold 68,298 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $29.48, for a total value of $2,013,425.04. Following the sale, 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Jamil A. Tahir sold 125,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $24.00, for a total value of $3,000,000.00. Following the transaction, the director now owns 195,000 shares of the company’s stock, valued at approximately $4,680,000. This trade represents a 39.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,342,859 shares of company stock worth $32,684,480. 40.70% of the stock is owned by insiders.

Hedge Funds Weigh In On AudioEye

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. acquired a new position in AudioEye during the third quarter worth $363,000. Barclays PLC grew its holdings in shares of AudioEye by 37.7% in the 3rd quarter. Barclays PLC now owns 10,181 shares of the company’s stock worth $233,000 after purchasing an additional 2,788 shares during the last quarter. Kovitz Investment Group Partners LLC acquired a new stake in shares of AudioEye during the 3rd quarter worth about $263,000. Centiva Capital LP bought a new position in AudioEye during the 3rd quarter valued at about $286,000. Finally, Summit Partners Public Asset Management LLC boosted its position in AudioEye by 24.5% in the third quarter. Summit Partners Public Asset Management LLC now owns 515,279 shares of the company’s stock valued at $11,774,000 after buying an additional 101,302 shares in the last quarter. Institutional investors own 51.11% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on AEYE. HC Wainwright increased their target price on shares of AudioEye from $28.00 to $37.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Roth Mkm reissued a “buy” rating and set a $35.00 price objective (up previously from $25.00) on shares of AudioEye in a report on Friday, November 8th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently 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.