Short Interest in AudioEye, Inc. (NASDAQ:AEYE) Expands By 10.6%

AudioEye, Inc. (NASDAQ:AEYE) saw a large increase in short interest in September. As of September 15th, there was short interest totalling 770,500 shares, an increase of 10.6% from the August 31st total of 696,900 shares. Based on an average trading volume of 221,400 shares, the days-to-cover ratio is presently 3.5 days. Approximately 12.9% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on AEYE shares. Roth Mkm initiated coverage on shares of AudioEye in a research note on Friday, June 21st. They issued a “buy” rating and a $25.00 price objective for the company. HC Wainwright reissued a “buy” rating and issued a $23.00 price target on shares of AudioEye in a research report on Friday, July 26th. Craig Hallum upped their price objective on AudioEye from $20.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, Roth Capital upgraded AudioEye to a “strong-buy” rating in a report on Friday, June 21st. Four 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 company currently has an average rating of “Buy” and an average price target of $24.13.

AudioEye Trading Down 3.4 %

Shares of NASDAQ:AEYE opened at $22.85 on Tuesday. AudioEye has a 52 week low of $3.75 and a 52 week high of $29.30. The company’s 50 day moving average is $22.46 and its two-hundred day moving average is $19.16. The company has a market cap of $265.95 million, a PE ratio of -58.59, a P/E/G ratio of 6.50 and a beta of 1.00. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.39.

AudioEye (NASDAQ:AEYE) last posted its earnings results on Thursday, July 25th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.02 by $0.02. The firm had revenue of $8.47 million for the quarter, compared to analyst estimates of $8.45 million. AudioEye had a positive return on equity of 12.34% and a negative net margin of 10.70%. Equities analysts predict that AudioEye will post 0.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AudioEye

Several hedge funds have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC acquired a new position in shares of AudioEye in the 1st quarter valued at $116,000. B. Riley Wealth Advisors Inc. boosted its stake in 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 acquiring an additional 500 shares in the last quarter. Hillsdale Investment Management Inc. acquired a new position in AudioEye in the first quarter valued at $137,000. Palisades Hudson Asset Management L.P. purchased a new position in shares of AudioEye during the second quarter worth about $142,000. Finally, Rhumbline Advisers acquired a new stake in shares of AudioEye during the second quarter worth about $147,000. 51.11% of the stock is currently owned by hedge funds and other institutional investors.

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.