AudioEye, Inc. (NASDAQ:AEYE) Sees Large Increase in Short Interest

AudioEye, Inc. (NASDAQ:AEYE) was the recipient of a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 196,400 shares, a growth of 111.0% from the March 31st total of 93,100 shares. Approximately 3.4% of the shares of the company are sold short. Based on an average daily trading volume, of 116,700 shares, the days-to-cover ratio is presently 1.7 days.

AudioEye Stock Down 3.8 %

AEYE opened at $14.29 on Friday. AudioEye has a 52 week low of $3.75 and a 52 week high of $16.22. The business has a 50 day moving average price of $9.85 and a two-hundred day moving average price of $6.49. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 1.00. The company has a market cap of $166.62 million, a PE ratio of -36.64 and a beta of 1.36.

AudioEye (NASDAQ:AEYE) last released its quarterly earnings results on Wednesday, March 6th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.11. AudioEye had a negative return on equity of 12.39% and a negative net margin of 14.83%. The business had revenue of $7.87 million during the quarter, compared to analysts’ expectations of $7.91 million. As a group, research analysts anticipate that AudioEye will post 0.01 EPS for the current year.

Hedge Funds Weigh In On AudioEye

An institutional investor recently bought a new position in AudioEye stock. Potomac Capital Management Inc. purchased a new position in shares of AudioEye, Inc. (NASDAQ:AEYE) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 20,300 shares of the company’s stock, valued at approximately $100,000. Potomac Capital Management Inc. owned approximately 0.17% of AudioEye as of its most recent SEC filing. 51.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AEYE has been the subject of a number of research reports. Craig Hallum boosted their price objective on AudioEye from $10.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. HC Wainwright reiterated a “buy” rating and issued a $17.00 price target on shares of AudioEye in a research report on Wednesday. Finally, B. Riley raised their price objective on shares of AudioEye from $14.00 to $18.50 and gave the stock a “buy” rating in a research report on Wednesday.

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.