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

AudioEye, Inc. (NASDAQ:AEYE - Get Free Report) saw a significant decline in short interest in the month of November. As of November 15th, there was short interest totalling 680,400 shares, a decline of 9.0% from the October 31st total of 747,700 shares. Currently, 11.1% of the shares of the company are sold short. Based on an average daily volume of 161,700 shares, the short-interest ratio is currently 4.2 days.

Insider Activity at AudioEye

In other news, CFO Kelly Georgevich sold 10,000 shares of the business's stock in a transaction dated Tuesday, November 12th. The shares were 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO David Moradi sold 68,298 shares of the business's stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $29.48, for a total transaction of $2,013,425.04. Following the sale, the chief executive officer now directly owns 2,830,035 shares of the company's stock, valued at $83,429,431.80. This represents a 2.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 92,859 shares of company stock worth $2,684,480 over the last three months. Company insiders own 40.70% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of AudioEye by 2.3% during the first 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 during the last quarter. B. Riley Wealth Advisors Inc. grew its position 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 worth $130,000 after acquiring an additional 500 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of AudioEye during the second quarter worth about $348,000. Palisades Hudson Asset Management L.P. bought a new position in shares of AudioEye during the second quarter worth about $142,000. Finally, Rhumbline Advisers bought a new position in shares of AudioEye during the second quarter worth about $147,000. 51.11% of the stock is owned by institutional investors and hedge funds.

AudioEye Trading Up 3.7 %

Shares of NASDAQ AEYE traded up $1.00 during midday trading on Monday, reaching $27.92. 184,939 shares of the stock were exchanged, compared to its average volume of 178,562. The company has a market capitalization of $340.01 million, a P/E ratio of -99.70, a P/E/G ratio of 6.15 and a beta of 1.03. AudioEye has a 52-week low of $4.01 and a 52-week high of $34.85. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.92. The stock has a 50 day moving average price of $24.62 and a 200-day moving average price of $22.67.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AEYE. Roth Mkm reissued a "buy" rating and set a $35.00 target price (up previously from $25.00) on shares of AudioEye in a research note on Friday, November 8th. HC Wainwright boosted their target price on shares of AudioEye from $28.00 to $37.00 and gave the stock a "buy" rating in a research note on Monday, November 11th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, AudioEye currently has a consensus rating of "Buy" and an average price target of $30.13.

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.