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

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

Insiders Place Their Bets

In other news, CEO David Moradi sold 14,061 shares of the firm’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $26.14, for a total value of $367,554.54. Following the transaction, the chief executive officer now owns 2,764,290 shares of the company’s stock, valued at approximately $72,258,540.60. This trade represents a 0.51 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Kelly Georgevich sold 10,000 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $29.00, for a total transaction of $290,000.00. Following the completion of the transaction, the chief financial officer now directly owns 88,981 shares in the company, valued at approximately $2,580,449. This represents a 10.10 % 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 over the last quarter. Company insiders own 40.70% of the company’s stock.

Institutional Investors Weigh In On AudioEye

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. grew 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 acquiring an additional 500 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in 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 acquiring an additional 1,477 shares in the last quarter. MetLife Investment Management LLC acquired a new position in AudioEye during the 3rd quarter worth $54,000. Barclays PLC grew its holdings in AudioEye by 37.7% during the 3rd quarter. Barclays PLC now owns 10,181 shares of the company’s stock worth $233,000 after acquiring an additional 2,788 shares in the last quarter. Finally, CWM LLC acquired a new position in AudioEye during the 3rd quarter worth $93,000. Hedge funds and other institutional investors own 51.11% of the company’s stock.

AudioEye Stock Performance

AudioEye stock opened at $25.73 on Tuesday. AudioEye has a 12-month low of $3.97 and a 12-month high of $34.85. The company has a market capitalization of $313.34 million, a price-to-earnings ratio of -95.30, a price-to-earnings-growth ratio of 6.80 and a beta of 1.03. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.84 and a quick ratio of 0.84. The firm’s fifty day moving average price is $23.84 and its 200 day moving average price is $22.22.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on AEYE shares. HC Wainwright raised 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. Craig Hallum raised their target price on shares of AudioEye from $20.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Roth Mkm reissued a “buy” rating and issued a $35.00 target price (up previously from $25.00) on shares of AudioEye in a research note on Friday, November 8th. Four investment 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, AudioEye has an average rating of “Buy” and a consensus target price 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.