AudioEye, Inc. (NASDAQ:AEYE – Get Rating) was the target of a large drop in short interest during the month of August. As of August 15th, there was short interest totalling 114,600 shares, a drop of 15.7% from the July 31st total of 136,000 shares. Based on an average trading volume of 58,500 shares, the short-interest ratio is currently 2.0 days. Approximately 2.0% of the company's shares are short sold.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on the stock. HC Wainwright raised their price target on shares of AudioEye from $8.00 to $10.00 and gave the stock a "buy" rating in a report on Wednesday, August 10th. B. Riley cut their target price on shares of AudioEye from $10.50 to $9.00 in a research note on Friday, May 6th.
Get AudioEye alerts:Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of AEYE. Prelude Capital Management LLC purchased a new position in AudioEye in the second quarter worth about $1,256,000. Anchor Capital Advisors LLC grew its stake in shares of AudioEye by 38.4% in the second quarter. Anchor Capital Advisors LLC now owns 85,462 shares of the company's stock worth $514,000 after acquiring an additional 23,715 shares during the period. Cannell Capital LLC grew its stake in shares of AudioEye by 17.2% in the first quarter. Cannell Capital LLC now owns 697,787 shares of the company's stock worth $4,752,000 after acquiring an additional 102,173 shares during the period. Finally, Greenhaven Road Investment Management L.P. grew its stake 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 worth $3,869,000 after acquiring an additional 3,700 shares during the period. 31.41% of the stock is owned by hedge funds and other institutional investors.
AudioEye Trading Up 0.9 %
Shares of AEYE opened at $6.81 on Monday. The firm's 50-day moving average price is $6.15 and its 200-day moving average price is $5.51. The firm has a market capitalization of $77.96 million, a price-to-earnings ratio of -4.86 and a beta of 1.40. AudioEye has a 1-year low of $3.10 and a 1-year high of $13.48.AudioEye (NASDAQ:AEYE – Get Rating) last announced its earnings results on Tuesday, August 9th. The company reported ($0.23) earnings per share for the quarter, beating 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%. The firm had revenue of $7.57 million for the quarter, compared to analyst estimates of $7.51 million. During the same quarter in the previous year, the firm posted ($0.17) EPS. On average, research analysts forecast that AudioEye will post -1.02 EPS for the current fiscal year.
About AudioEye
(Get Rating)
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.
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