AudioEye, Inc. (NASDAQ:AEYE – Get Rating) saw a significant drop in short interest in July. As of July 31st, there was short interest totalling 136,000 shares, a drop of 10.5% from the July 15th total of 151,900 shares. Based on an average daily trading volume, of 57,400 shares, the short-interest ratio is currently 2.4 days. Approximately 2.4% of the company's stock are sold short.

Analysts Set New Price Targets

AEYE has been the topic of several recent research reports. HC Wainwright boosted their price target on AudioEye from $8.00 to $10.00 and gave the company a "buy" rating in a research report on Wednesday, August 10th. B. Riley reduced their target price on AudioEye from $10.50 to $9.00 in a research note on Friday, May 6th.

Hedge Funds Weigh In On AudioEye

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Anchor Capital Advisors LLC raised its stake in shares of AudioEye by 173.9% during the first quarter. Anchor Capital Advisors LLC now owns 61,747 shares of the company's stock worth $420,000 after buying an additional 39,200 shares during the last quarter. Greenhaven Road Investment Management L.P. boosted its holdings in shares of AudioEye by 0.7% in the first quarter. Greenhaven Road Investment Management L.P. now owns 568,171 shares of the company's stock valued at $3,869,000 after buying an additional 3,700 shares during the period. Finally, Cannell Capital LLC boosted its holdings in shares of AudioEye by 17.2% in the first quarter. Cannell Capital LLC now owns 697,787 shares of the company's stock valued at $4,752,000 after buying an additional 102,173 shares during the period. 31.41% of the stock is currently owned by institutional investors and hedge funds.

AudioEye Stock Performance

AudioEye (NASDAQ:AEYE – Get Rating) last released its earnings results on Tuesday, August 9th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.33) by $0.10. AudioEye had a negative net margin of 58.44% and a negative return on equity of 95.94%. During the same period in the prior year, the business posted ($0.17) earnings per share. On average, sell-side analysts predict that AudioEye will post -1.02 earnings per share for the current fiscal year.

AudioEye Company Profile

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AudioEye, Inc provides patented, internet content publication, distribution software, and related services to Internet, print, broadcast, and other media to people regardless of their network connection, 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.

Further Reading

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