Audioeye Inc (NASDAQ:AEYE) Sees Large Decline in Short Interest

Audioeye Inc (NASDAQ:AEYE) saw a large drop in short interest during the month of July. As of July 15th, there was short interest totalling 100,500 shares, a drop of 8.5% from the June 15th total of 109,800 shares. Approximately 3.8% of the shares of the stock are sold short. Based on an average daily volume of 30,400 shares, the short-interest ratio is presently 3.3 days.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Deutsche Bank AG acquired a new stake in shares of Audioeye during the 4th quarter valued at $59,000. HighPoint Advisor Group LLC acquired a new position in Audioeye during the 1st quarter worth about $151,000. Finally, Millennium Management LLC acquired a new position in Audioeye during the 4th quarter worth about $476,000. 5.60% of the stock is currently owned by institutional investors.

AEYE has been the topic of several recent analyst reports. Zacks Investment Research upgraded Golub Capital BDC from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research note on Tuesday, July 16th. National Securities reiterated a “buy” rating and issued a $12.50 price target on shares of Audioeye in a research note on Wednesday, May 15th. Finally, B. Riley set a $18.00 price target on TiVo and gave the company a “buy” rating in a research note on Friday, May 31st.

Shares of NASDAQ AEYE traded down $0.03 during mid-day trading on Wednesday, hitting $6.11. 1,996 shares of the stock traded hands, compared to its average volume of 17,459. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.10. Audioeye has a twelve month low of $5.30 and a twelve month high of $12.40. The firm has a market capitalization of $49.67 million, a P/E ratio of -8.73 and a beta of 1.21. The firm’s 50 day simple moving average is $7.36.

Audioeye (NASDAQ:AEYE) last released its quarterly earnings data on Tuesday, May 14th. The company reported ($0.28) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.18) by ($0.10). Audioeye had a negative net margin of 92.33% and a negative return on equity of 121.68%. The firm had revenue of $1.99 million for the quarter, compared to analyst estimates of $2.02 million. On average, equities analysts anticipate that Audioeye will post -0.64 EPS for the current year.

About Audioeye

AudioEye, Inc provides Web accessibility solutions to Internet, print, broadcast, and other media to people regardless of their network connection, device, location, or disabilities in the United States. The company develops patented Internet content publication and distribution software that enables conversion of media into accessible formats, as well as allows for real time distribution on various Internet connected devices.

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