AudioEye, Inc. (NASDAQ:AEYE) Sees Large Growth in Short Interest

AudioEye, Inc. (NASDAQ:AEYE) was the recipient of a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 196,400 shares, an increase of 111.0% from the March 31st total of 93,100 shares. Approximately 3.4% of the shares of the company are short sold. Based on an average daily trading volume, of 116,700 shares, the days-to-cover ratio is currently 1.7 days.

Institutional Trading of AudioEye

A hedge fund recently bought a new stake in AudioEye stock. Potomac Capital Management Inc. acquired a new stake in shares of AudioEye, Inc. (NASDAQ:AEYE) during the third quarter, according to its most recent filing with the SEC. The fund acquired 20,300 shares of the company’s stock, valued at approximately $100,000. Potomac Capital Management Inc. owned 0.17% of AudioEye as of its most recent filing with the SEC. 51.11% of the stock is currently owned by institutional investors.

AudioEye Price Performance

NASDAQ:AEYE opened at $14.29 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 1.00. AudioEye has a 52-week low of $3.75 and a 52-week high of $16.22. The business’s fifty day moving average is $9.68 and its 200 day moving average is $6.42.

AudioEye (NASDAQ:AEYE) last released its quarterly earnings data on Wednesday, March 6th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.11. AudioEye had a negative return on equity of 12.39% and a negative net margin of 14.83%. The company had revenue of $7.87 million for the quarter, compared to analyst estimates of $7.91 million. As a group, equities research analysts forecast that AudioEye will post 0.01 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on AEYE shares. B. Riley boosted their target price on AudioEye from $14.00 to $18.50 and gave the company a “buy” rating in a research note on Wednesday. HC Wainwright restated a “buy” rating and issued a $17.00 target price on shares of AudioEye in a research note on Wednesday. Finally, Craig Hallum boosted their target price on AudioEye from $10.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th.

About AudioEye

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.