Short Interest in AudioEye, Inc. (NASDAQ:AEYE) Declines By 8.4%

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

AudioEye Price Performance

NASDAQ:AEYE opened at $25.51 on Monday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.84 and a current ratio of 0.84. The stock’s 50-day simple moving average is $23.71 and its 200 day simple moving average is $22.16. The company has a market cap of $310.71 million, a P/E ratio of -94.48, a P/E/G ratio of 6.80 and a beta of 1.03. AudioEye has a 52-week low of $3.97 and a 52-week high of $34.85.

Insider Activity at AudioEye

In other news, CFO Kelly Georgevich sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $29.00, for a total value of $290,000.00. Following the sale, 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO David Moradi sold 68,298 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $29.48, for a total value of $2,013,425.04. Following the completion of the sale, the chief executive officer now owns 2,830,035 shares in the company, valued at approximately $83,429,431.80. This represents a 2.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 92,859 shares of company stock worth $2,684,480 over the last three months. Company insiders own 40.70% of the company’s stock.

Hedge Funds Weigh In On AudioEye

A number of hedge funds and other institutional investors have recently bought and sold shares of AEYE. MetLife Investment Management LLC bought a new stake in shares of AudioEye during the third quarter worth approximately $54,000. CWM LLC bought a new stake in shares of AudioEye in the third quarter valued at approximately $93,000. Acadian Asset Management LLC bought a new stake in shares of AudioEye in the first quarter valued at approximately $116,000. B. Riley Wealth Advisors Inc. boosted its stake in shares of AudioEye by 4.0% in the first quarter. B. Riley Wealth Advisors Inc. now owns 12,975 shares of the company’s stock valued at $130,000 after buying an additional 500 shares during the period. Finally, Hillsdale Investment Management Inc. bought a new stake in shares of AudioEye in the first quarter valued at approximately $137,000. Institutional investors own 51.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AEYE. HC Wainwright upped their price objective on AudioEye from $28.00 to $37.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Roth Mkm reaffirmed 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. Finally, Craig Hallum upped their price objective on AudioEye from $20.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, AudioEye presently has a consensus 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.