Audioeye Inc (NASDAQ:AEYE) Short Interest Up 38.8% in October

Audioeye Inc (NASDAQ:AEYE) was the target of a large increase in short interest in October. As of October 31st, there was short interest totalling 149,200 shares, an increase of 38.8% from the September 30th total of 107,500 shares. Based on an average trading volume of 30,300 shares, the days-to-cover ratio is currently 4.9 days. Currently, 5.7% of the company’s stock are short sold.

Audioeye stock traded down $0.03 during trading hours on Wednesday, hitting $3.44. 334 shares of the stock traded hands, compared to its average volume of 39,732. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.32. The firm’s 50-day moving average price is $3.48 and its two-hundred day moving average price is $5.91. Audioeye has a one year low of $2.76 and a one year high of $12.40. The company has a market cap of $25.83 million, a PE ratio of -4.93 and a beta of 1.27.

Audioeye (NASDAQ:AEYE) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.08). Audioeye had a negative return on equity of 138.10% and a negative net margin of 89.94%. The company had revenue of $2.44 million during the quarter, compared to the consensus estimate of $2.34 million. On average, sell-side analysts expect that Audioeye will post -1.02 earnings per share for the current fiscal year.

Several analysts have weighed in on the company. TheStreet cut Audioeye from a “c-” rating to a “d+” rating in a research report on Tuesday, August 20th. B. Riley set a $9.80 price objective on Audioeye and gave the company a “buy” rating in a research report on Tuesday, October 8th. Zacks Investment Research raised Audioeye from a “sell” rating to a “hold” rating in a research report on Tuesday, October 15th. Finally, National Securities assumed coverage on Audioeye in a research report on Thursday, October 24th. They set a “buy” rating and a $11.00 price objective on the stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Bank of Montreal Can bought a new stake in shares of Audioeye in the 2nd quarter worth approximately $55,000. BlackRock Inc. bought a new stake in shares of Audioeye in the 2nd quarter worth approximately $95,000. Finally, Buckingham Asset Management LLC bought a new stake in shares of Audioeye in the 2nd quarter worth approximately $308,000. 4.91% of the stock is currently owned by hedge funds and other institutional investors.

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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