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

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

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on AEYE shares. HC Wainwright lifted their target price on shares of AudioEye from $28.00 to $37.00 and gave the company a “buy” rating in a report on Monday, November 11th. Roth Mkm reiterated a “buy” rating and set a $35.00 target price (up previously from $25.00) on shares of AudioEye in a research report on Friday, November 8th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $30.13.

AudioEye Stock Performance

Shares of AEYE opened at $26.92 on Monday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.92. AudioEye has a 52-week low of $4.01 and a 52-week high of $34.85. The company has a 50-day simple moving average of $24.62 and a 200-day simple moving average of $22.66. The company has a market capitalization of $327.83 million, a PE ratio of -99.70, a P/E/G ratio of 6.15 and a beta of 1.03.

Insider Activity at AudioEye

In other news, CEO David Moradi sold 14,061 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $26.14, for a total value of $367,554.54. Following the completion of the sale, the chief executive officer now directly owns 2,764,290 shares of the company’s stock, valued at approximately $72,258,540.60. This represents a 0.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kelly Georgevich sold 10,000 shares of AudioEye 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 $2,580,449. The trade was a 10.10 % decrease in their ownership of the stock. 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 90 days. 40.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Summit Partners Public Asset Management LLC boosted its stake in shares of AudioEye by 24.5% during the 3rd quarter. Summit Partners Public Asset Management LLC now owns 515,279 shares of the company’s stock worth $11,774,000 after acquiring an additional 101,302 shares in the last quarter. Vanguard Group Inc. boosted its position in AudioEye by 2.3% during the first quarter. Vanguard Group Inc. now owns 309,190 shares of the company’s stock worth $3,095,000 after purchasing an additional 6,929 shares in the last quarter. Renaissance Technologies LLC grew its holdings in AudioEye by 202.5% in the second quarter. Renaissance Technologies LLC now owns 60,500 shares of the company’s stock valued at $1,065,000 after purchasing an additional 40,500 shares during the last quarter. ClariVest Asset Management LLC purchased a new position in shares of AudioEye in the second quarter valued at $664,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of AudioEye by 58.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 36,824 shares of the company’s stock worth $841,000 after buying an additional 13,556 shares during the last quarter. 51.11% of the stock is currently owned by institutional investors and hedge funds.

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.