Short Interest in AudioEye, Inc. (NASDAQ:AEYE) Rises By 13.0%

AudioEye, Inc. (NASDAQ:AEYEGet Free Report) was the recipient of a large growth in short interest in 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 trading volume of 233,800 shares, the short-interest ratio is presently 2.3 days. Approximately 9.3% of the company’s stock are sold short.

Analyst Ratings Changes

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

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AudioEye Stock Performance

NASDAQ AEYE opened at $19.49 on Tuesday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.37. AudioEye has a 52 week low of $3.75 and a 52 week high of $26.16. The company has a 50 day moving average price of $18.75 and a 200 day moving average price of $10.66.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of AEYE. Acadian Asset Management LLC acquired a new stake in shares of AudioEye in the 1st quarter worth $116,000. B. Riley Wealth Advisors Inc. grew its stake 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 buying an additional 500 shares in the last quarter. Hillsdale Investment Management Inc. acquired a new position in shares of AudioEye in the first quarter worth $137,000. Potomac Capital Management Inc. purchased a new stake in AudioEye during the 3rd quarter worth about $100,000. Finally, Vanguard Group Inc. grew its holdings in AudioEye by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 309,190 shares of the company’s stock worth $3,095,000 after acquiring an additional 6,929 shares in the last quarter. Institutional investors and hedge funds own 51.11% of the company’s stock.

About AudioEye

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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.

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