AudioEye, Inc. (NASDAQ:AEYE) Short Interest Down 9.0% in November

AudioEye, Inc. (NASDAQ:AEYE) was the recipient of a large decrease in short interest during the month of November. As of November 15th, there was short interest totalling 680,400 shares, a decrease of 9.0% from the October 31st total of 747,700 shares. Based on an average daily trading volume, of 161,700 shares, the days-to-cover ratio is currently 4.2 days. Approximately 11.1% of the shares of the stock are short sold.

AudioEye Trading Up 0.4 %

Shares of AEYE opened at $26.92 on Monday. The stock’s fifty day simple moving average is $24.62 and its 200 day simple moving average is $22.66. AudioEye has a twelve month low of $4.01 and a twelve month high of $34.85. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $327.83 million, a P/E ratio of -99.70, a price-to-earnings-growth ratio of 6.15 and a beta of 1.03.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AEYE. HC Wainwright upped their target price on AudioEye from $28.00 to $37.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Roth Mkm reiterated a “buy” rating and set a $35.00 price objective (up from $25.00) on shares of AudioEye in a report 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 company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $30.13.

Insider Buying and Selling at AudioEye

In related news, 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 transaction of $2,013,425.04. Following the transaction, the chief executive officer now owns 2,830,035 shares of the company’s stock, valued at approximately $83,429,431.80. This represents a 2.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Kelly Georgevich sold 10,000 shares of AudioEye stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $29.00, for a total transaction of $290,000.00. Following the completion of the sale, the chief financial officer now directly owns 88,981 shares of the company’s stock, 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. In the last 90 days, insiders have sold 92,859 shares of company stock worth $2,684,480. 40.70% of the stock is owned by insiders.

Hedge Funds Weigh In On AudioEye

A number of large investors have recently modified their holdings of AEYE. Summit Partners Public Asset Management LLC increased its position in 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 purchasing an additional 101,302 shares in the last quarter. Renaissance Technologies LLC grew its stake in AudioEye by 202.5% during the second quarter. Renaissance Technologies LLC now owns 60,500 shares of the company’s stock worth $1,065,000 after buying an additional 40,500 shares during the period. ClariVest Asset Management LLC acquired a new stake in shares of AudioEye in the second quarter worth $664,000. Bank of New York Mellon Corp purchased a new position in shares of AudioEye in the 2nd quarter valued at $348,000. Finally, GSA Capital Partners LLP acquired a new position in shares of AudioEye during the 3rd quarter valued at $416,000. 51.11% of the stock is currently owned by hedge funds and other institutional investors.

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.