AudioEye, Inc. (NASDAQ:AEYE) Short Interest Update

AudioEye, Inc. (NASDAQ:AEYE - Get Free Report) was the target of a significant decline in short interest in the month of December. As of December 15th, there was short interest totalling 558,900 shares, a decline of 19.4% from the November 30th total of 693,500 shares. Currently, 7.6% of the shares of the company are short sold. Based on an average daily volume of 232,300 shares, the short-interest ratio is currently 2.4 days.

AudioEye Price Performance

Shares of NASDAQ:AEYE traded down $1.27 during midday trading on Friday, reaching $16.11. 331,557 shares of the company's stock were exchanged, compared to its average volume of 196,287. 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 company's 50 day simple moving average is $22.99 and its two-hundred day simple moving average is $22.18. AudioEye has a 12 month low of $4.52 and a 12 month high of $34.85. The firm has a market capitalization of $196.19 million, a PE ratio of -59.67, a price-to-earnings-growth ratio of 4.29 and a beta of 1.00.

Insider Transactions at AudioEye

In other news, insider Carr Bettis sold 225,000 shares of the firm's stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $24.00, for a total value of $5,400,000.00. Following the sale, the insider now owns 200,045 shares in the company, valued at approximately $4,801,080. This trade represents a 52.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO David Moradi sold 900,000 shares of the business'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 $21,600,000.00. Following the transaction, the chief executive officer now directly owns 1,864,290 shares in the company, valued at $44,742,960. This trade represents a 32.56 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,342,859 shares of company stock worth $32,684,480. Company insiders own 40.70% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Summit Partners Public Asset Management LLC raised its stake in AudioEye by 24.5% during the third quarter. Summit Partners Public Asset Management LLC now owns 515,279 shares of the company's stock worth $11,774,000 after acquiring an additional 101,302 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of AudioEye by 202.5% during the 2nd quarter. Renaissance Technologies LLC now owns 60,500 shares of the company's stock worth $1,065,000 after purchasing an additional 40,500 shares in the last quarter. ClariVest Asset Management LLC acquired a new stake in shares of AudioEye during the 2nd quarter worth about $664,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in AudioEye by 58.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 36,824 shares of the company's stock valued at $841,000 after purchasing an additional 13,556 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its position in AudioEye by 130.6% in the second quarter. Acadian Asset Management LLC now owns 26,939 shares of the company's stock valued at $473,000 after buying an additional 15,256 shares in the last quarter. Institutional investors own 51.11% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on AEYE. Roth Mkm reiterated a "buy" rating and issued a $35.00 target price (up previously from $25.00) on shares of AudioEye in a research note on Friday, November 8th. HC Wainwright upped their price target on AudioEye from $28.00 to $37.00 and gave the company a "buy" rating in a report on Monday, November 11th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $30.13.

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.