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

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

Wall Street Analysts Forecast Growth

AEYE has been the subject of several research analyst reports. Craig Hallum boosted their price objective on AudioEye from $10.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. B. Riley upped their price target on AudioEye from $14.00 to $18.50 and gave the stock a “buy” rating in a research report on Wednesday. Finally, HC Wainwright reaffirmed a “buy” rating and set a $17.00 price target on shares of AudioEye in a research report on Wednesday.

AudioEye Stock Performance

NASDAQ AEYE opened at $14.29 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.28 and a quick ratio of 1.28. AudioEye has a 12 month low of $3.75 and a 12 month high of $16.22. The stock has a 50 day moving average of $9.68 and a 200-day moving average of $6.42.

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

Institutional Investors Weigh In On AudioEye

A hedge fund recently bought a new stake in AudioEye stock. Potomac Capital Management Inc. purchased a new stake in AudioEye, Inc. (NASDAQ:AEYE) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 20,300 shares of the company’s stock, valued at approximately $100,000. Potomac Capital Management Inc. owned 0.17% of AudioEye at the end of the most recent quarter. 51.11% of the stock is owned by institutional investors.

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.