AudioEye, Inc. (NASDAQ:AEYE) Short Interest Up 111.0% in April

AudioEye, Inc. (NASDAQ:AEYE) was the target of a large growth in short interest in 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 short sold. Based on an average trading volume of 116,700 shares, the short-interest ratio is currently 1.7 days.

Hedge Funds Weigh In On AudioEye

An institutional investor recently bought a new position in AudioEye stock. Potomac Capital Management Inc. bought a new stake in AudioEye, Inc. (NASDAQ:AEYE) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 20,300 shares of the company’s stock, valued at approximately $100,000. Potomac Capital Management Inc. owned about 0.17% of AudioEye at the end of the most recent quarter. 51.11% of the stock is currently owned by institutional investors and hedge funds.

AudioEye Trading Up 2.9 %

AEYE opened at $14.85 on Friday. The company has a quick ratio of 1.28, a current 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 50 day moving average is $9.50 and its two-hundred day moving average is $6.36. The firm has a market cap of $173.15 million, a price-to-earnings ratio of -38.08 and a beta of 1.36.

AudioEye (NASDAQ:AEYE) last announced its earnings results on Wednesday, March 6th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.11. AudioEye had a negative net margin of 14.83% and a negative return on equity of 12.39%. The business had revenue of $7.87 million for the quarter, compared to analysts’ expectations of $7.91 million. On average, research analysts predict that AudioEye will post 0.01 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Craig Hallum upped their price target on AudioEye from $10.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. B. Riley increased their target price on shares of AudioEye from $14.00 to $18.50 and gave the company a “buy” rating in a research report on Wednesday. Finally, HC Wainwright reiterated a “buy” rating and set a $17.00 price target on shares of AudioEye in a research note on Wednesday.

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.