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

AudioEye, Inc. (NASDAQ:AEYE) was the target of a large growth in short interest during the month of May. As of May 31st, there was short interest totalling 539,500 shares, a growth of 13.0% from the May 15th total of 477,500 shares. Based on an average daily trading volume, of 233,800 shares, the short-interest ratio is presently 2.3 days. Currently, 9.3% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on AEYE shares. HC Wainwright reiterated a “buy” rating and issued a $17.00 price target on shares of AudioEye in a research note on Wednesday, April 24th. B. Riley upped their target price on shares of AudioEye from $14.00 to $18.50 and gave the company a “buy” rating in a report on Wednesday, April 24th. Finally, Craig Hallum increased their price target on shares of AudioEye from $10.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th.

AudioEye Stock Down 1.1 %

Shares of AEYE stock opened at $19.49 on Tuesday. AudioEye has a fifty-two week low of $3.75 and a fifty-two week high of $26.16. The firm’s 50 day moving average price is $18.75 and its two-hundred day moving average price is $10.66. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.37.

AudioEye (NASDAQ:AEYE) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.03. The company had revenue of $8.08 million during the quarter, compared to analysts’ expectations of $8.04 million. AudioEye had a negative net margin of 14.83% and a negative return on equity of 13.59%. Research analysts predict that AudioEye will post 0.1 earnings per share for the current fiscal year.

Institutional Trading of AudioEye

Large investors have recently added to or reduced their stakes in the company. Potomac Capital Management Inc. bought a new stake in AudioEye during the 3rd quarter worth approximately $100,000. Acadian Asset Management LLC acquired a new stake in shares of AudioEye in the first quarter valued at approximately $116,000. B. Riley Wealth Advisors Inc. increased its holdings 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 purchasing an additional 500 shares during the last quarter. Hillsdale Investment Management Inc. bought a new position in AudioEye in the 1st quarter valued at about $137,000. Finally, Vanguard Group Inc. boosted its stake in AudioEye by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 309,190 shares of the company’s stock valued at $3,095,000 after purchasing an additional 6,929 shares during the period. 51.11% of the stock is owned by 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.