AudioEye, Inc. (NASDAQ:AEYE) Short Interest Up 56.6% in July

AudioEye, Inc. (NASDAQ:AEYE) was the recipient of a significant increase in short interest during the month of July. As of July 15th, there was short interest totalling 894,400 shares, an increase of 56.6% from the June 30th total of 571,000 shares. Based on an average trading volume of 277,600 shares, the days-to-cover ratio is presently 3.2 days. Currently, 15.5% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Craig Hallum raised their target price on shares of AudioEye from $20.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday. Roth Mkm started coverage on shares of AudioEye in a report on Friday, June 21st. They issued a “buy” rating and a $25.00 price target on the stock. Roth Capital upgraded shares of AudioEye to a “strong-buy” rating in a report on Friday, June 21st. HC Wainwright reiterated a “buy” rating and issued a $23.00 price target on shares of AudioEye in a report on Friday. Finally, B. Riley lifted their price target on shares of AudioEye from $14.00 to $18.50 and gave the company a “buy” rating in a report on Wednesday, April 24th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $24.13.

AudioEye Stock Up 38.2 %

Shares of AEYE opened at $27.15 on Monday. The firm has a market cap of $316.03 million, a PE ratio of -69.62 and a beta of 1.07. The company’s fifty day moving average is $21.01 and its two-hundred day moving average is $13.82. AudioEye has a fifty-two week low of $3.75 and a fifty-two week high of $27.31. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.37.

Hedge Funds Weigh In On AudioEye

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of AudioEye by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 309,190 shares of the company’s stock valued at $3,095,000 after acquiring an additional 6,929 shares during the period. Bank of New York Mellon Corp purchased a new position in shares of AudioEye in the 2nd quarter valued at $348,000. Hillsdale Investment Management Inc. purchased a new position in shares of AudioEye in the 1st quarter valued at $137,000. B. Riley Wealth Advisors Inc. raised its stake in shares of AudioEye by 4.0% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 12,975 shares of the company’s stock valued at $130,000 after acquiring an additional 500 shares during the period. Finally, Acadian Asset Management LLC purchased a new position in shares of AudioEye in the 1st quarter valued at $116,000. Hedge funds and other institutional investors own 51.11% of the company’s stock.

AudioEye Company Profile

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.