Short Interest in AudioEye, Inc. (NASDAQ:AEYE) Drops By 8.4%

AudioEye, Inc. (NASDAQ:AEYE - Get Free Report) saw a significant drop in short interest in October. As of October 31st, there was short interest totalling 747,700 shares, a drop of 8.4% from the October 15th total of 816,700 shares. Currently, 11.9% of the company's stock are short sold. Based on an average daily trading volume, of 148,500 shares, the short-interest ratio is presently 5.0 days.

AudioEye Price Performance

Shares of NASDAQ AEYE traded down $0.65 during midday trading on Friday, reaching $25.51. 220,051 shares of the company traded hands, compared to its average volume of 219,296. AudioEye has a 12 month low of $3.97 and a 12 month high of $34.85. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.84 and a current ratio of 0.84. The stock's 50-day simple moving average is $23.71 and its 200-day simple moving average is $22.16. The firm has a market cap of $310.71 million, a PE ratio of -94.48, a PEG ratio of 6.80 and a beta of 1.03.

Analyst Ratings Changes

AEYE has been the topic of several research analyst reports. Roth Mkm restated a "buy" rating and issued a $35.00 price objective (up previously from $25.00) on shares of AudioEye in a research note on Friday, November 8th. Craig Hallum upped their target price on shares of AudioEye from $20.00 to $30.00 and gave the company a "buy" rating in a research note on Friday, July 26th. Finally, HC Wainwright increased their price target on shares of AudioEye from $28.00 to $37.00 and gave the stock a "buy" rating in a research report on Monday, November 11th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $30.13.

Insider Buying and Selling at AudioEye

In other news, CEO David Moradi sold 68,298 shares of AudioEye stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $29.48, for a total value 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 $83,429,431.80. This trade represents a 2.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kelly Georgevich sold 10,000 shares of the business's stock in a transaction 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 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. Insiders have sold a total of 92,859 shares of company stock worth $2,684,480 over the last three months. Corporate insiders own 40.70% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. MetLife Investment Management LLC bought a new position in shares of AudioEye in the third quarter valued at about $54,000. CWM LLC bought a new position in shares of AudioEye in the third quarter worth about $93,000. Acadian Asset Management LLC acquired a new position in shares of AudioEye during the first quarter worth approximately $116,000. B. Riley Wealth Advisors Inc. grew its stake in shares of AudioEye by 4.0% during 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. Finally, Hillsdale Investment Management Inc. acquired a new stake in shares of AudioEye in the first quarter valued at approximately $137,000. Institutional investors own 51.11% of the company's stock.

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.