Needham & Company LLC Reiterates “Buy” Rating for AudioEye (NASDAQ:AEYE)

AudioEye (NASDAQ:AEYE)‘s stock had its “buy” rating reiterated by equities researchers at Needham & Company LLC in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $25.00 price objective on the stock. Needham & Company LLC’s target price points to a potential upside of 45.18% from the company’s previous close.

AEYE has been the topic of a number of other reports. HC Wainwright boosted their price target on shares of AudioEye from $28.00 to $37.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Roth Mkm restated a “buy” rating and issued a $35.00 price target (up previously from $25.00) on shares of AudioEye in a research note on Friday, November 8th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $29.10.

AudioEye Stock Performance

Shares of AEYE stock opened at $17.22 on Tuesday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a market cap of $209.74 million, a P/E ratio of -63.78, a P/E/G ratio of 2.30 and a beta of 1.12. The firm’s 50 day moving average price is $20.06 and its 200-day moving average price is $21.82. AudioEye has a one year low of $4.52 and a one year high of $34.85.

Insider Buying and Selling

In other news, Director Jamil A. Tahir sold 125,000 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $24.00, for a total value of $3,000,000.00. Following the transaction, the director now owns 195,000 shares in the company, valued at approximately $4,680,000. This represents a 39.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO David Moradi sold 68,298 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $29.48, for a total value of $2,013,425.04. Following the sale, the chief executive officer now owns 2,830,035 shares of the company’s stock, valued at approximately $83,429,431.80. The trade was a 2.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,342,859 shares of company stock worth $32,684,480 over the last 90 days. 40.70% of the stock is owned by insiders.

Hedge Funds Weigh In On AudioEye

Hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. lifted its position in shares of AudioEye by 7.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 22,361 shares of the company’s stock worth $511,000 after buying an additional 1,477 shares during the last quarter. MetLife Investment Management LLC purchased a new position in shares of AudioEye during the third quarter worth about $54,000. Barclays PLC grew its holdings in shares of AudioEye by 37.7% during the third quarter. Barclays PLC now owns 10,181 shares of the company’s stock worth $233,000 after purchasing an additional 2,788 shares during the last quarter. CWM LLC acquired a new stake in shares of AudioEye during the third quarter worth about $93,000. Finally, Rhumbline Advisers purchased a new stake in shares of AudioEye in the 2nd quarter valued at about $147,000. 51.11% of the stock is currently owned by hedge funds and other institutional investors.

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.