Short Interest in AudioEye, Inc. (NASDAQ:AEYE) Drops By 19.4%

AudioEye, Inc. (NASDAQ:AEYE) saw a significant decrease in short interest in the month of December. As of December 15th, there was short interest totalling 558,900 shares, a decrease of 19.4% from the November 30th total of 693,500 shares. Approximately 7.6% of the shares of the company are short sold. Based on an average trading volume of 232,300 shares, the short-interest ratio is presently 2.4 days.

Analysts Set New Price Targets

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

Insider Buying and Selling at AudioEye

In other news, CFO Kelly Georgevich sold 10,000 shares of the company’s 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jamil A. Tahir sold 125,000 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $24.00, for a total transaction of $3,000,000.00. Following the completion of the sale, the director now owns 195,000 shares in the company, valued at approximately $4,680,000. The trade was a 39.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,342,859 shares of company stock worth $32,684,480 over the last ninety days. Company insiders own 40.70% of the company’s stock.

Hedge Funds Weigh In On AudioEye

A number of hedge funds have recently modified their holdings of AEYE. Summit Partners Public Asset Management LLC grew its position in AudioEye by 24.5% in the third quarter. Summit Partners Public Asset Management LLC now owns 515,279 shares of the company’s stock valued at $11,774,000 after acquiring an additional 101,302 shares during the period. Renaissance Technologies LLC boosted its stake in shares of AudioEye by 202.5% in the 2nd 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 in the last quarter. ClariVest Asset Management LLC bought a new stake in shares of AudioEye in the 2nd quarter worth about $664,000. Bank of New York Mellon Corp acquired a new stake in shares of AudioEye during the 2nd quarter worth about $348,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of AudioEye during the 3rd quarter worth about $416,000. 51.11% of the stock is owned by institutional investors and hedge funds.

AudioEye Stock Performance

NASDAQ:AEYE opened at $15.62 on Tuesday. The firm has a market capitalization of $190.22 million, a PE ratio of -57.85, a price-to-earnings-growth ratio of 4.29 and a beta of 1.00. 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 12-month low of $4.52 and a 12-month high of $34.85. The firm has a 50-day moving average price of $22.99 and a 200 day moving average price of $22.19.

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.