Short Interest in Audience Grows By 38.6% (ADNC)
Audience (NASDAQ:ADNC) saw a large increase in short interest in August. As of August 15th, there was short interest totalling 914,974 shares, an increase of 38.6% from the July 31st total of 660,279 shares, American Banking & Market News reports. Based on an average daily volume of 312,267 shares, the short-interest ratio is presently 2.9 days. Currently, 6.2% of the company’s stock are sold short.
In other Audience news, major shareholder Vulcan Capital Venture Capital unloaded 200,000 shares of the company’s stock on the open market in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $8.65, for a total transaction of $1,730,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
A number of research firms have recently commented on ADNC. Analysts at Pacific Crest initiated coverage on shares of Audience in a research note on Thursday, August 7th. They set an “outperform” rating on the stock. Separately, analysts at Zacks downgraded shares of Audience from a “neutral” rating to an “underperform” rating in a research note on Wednesday, August 6th. They now have a $7.80 price target on the stock. Finally, analysts at JPMorgan Chase & Co. cut their price target on shares of Audience from $14.00 to $13.00 in a research note on Friday, August 1st. They now have an “overweight” rating on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $10.11.
Shares of Audience (NASDAQ:ADNC) opened at 8.69 on Wednesday. Audience has a 52-week low of $7.80 and a 52-week high of $13.59. The stock has a 50-day moving average of $9.09 and a 200-day moving average of $11.3. The company’s market cap is $197.3 million.
Audience (NASDAQ:ADNC) last posted its quarterly earnings results on Thursday, July 31st. The company reported ($0.10) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.12) by $0.02. The company had revenue of $37.50 million for the quarter, compared to the consensus estimate of $38.60 million. During the same quarter in the prior year, the company posted $0.24 earnings per share. The company’s quarterly revenue was down 17.2% on a year-over-year basis. On average, analysts predict that Audience will post $-0.93 earnings per share for the current fiscal year.
Audience, Inc, incorporated on is a provider of voice and audio solutions that improve voice quality and the user experience in mobile devices.
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