AudioEye, Inc. (NASDAQ:AEYE) Receives Average Rating of “Buy” from Brokerages

AudioEye, Inc. (NASDAQ:AEYE) has earned an average rating of “Buy” from the six ratings firms that are covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $29.10.

Several research firms have weighed in on AEYE. Roth Mkm reiterated a “buy” rating and set a $35.00 price target (up previously from $25.00) on shares of AudioEye in a research note on Friday, November 8th. Needham & Company LLC reiterated a “buy” rating and issued a $25.00 target price on shares of AudioEye in a research report on Tuesday, January 21st. Finally, HC Wainwright raised their price target on shares of AudioEye from $28.00 to $37.00 and gave the stock a “buy” rating in a research report on Monday, November 11th.

Insider Activity at AudioEye

In other AudioEye news, CEO David Moradi sold 68,298 shares of AudioEye stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $29.48, for a total value of $2,013,425.04. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kelly Georgevich sold 10,000 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $29.00, for a total transaction of $290,000.00. Following the sale, the chief financial officer now directly owns 88,981 shares in the company, valued at approximately $2,580,449. The trade was a 10.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,342,859 shares of company stock worth $32,684,480. 40.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AudioEye

Several large investors have recently bought and sold shares of the company. Summit Partners Public Asset Management LLC grew its holdings in shares of AudioEye by 24.5% during the third quarter. Summit Partners Public Asset Management LLC now owns 515,279 shares of the company’s stock worth $11,774,000 after buying an additional 101,302 shares in the last quarter. Barclays PLC raised its holdings in AudioEye by 37.7% in the 3rd quarter. Barclays PLC now owns 10,181 shares of the company’s stock valued at $233,000 after acquiring an additional 2,788 shares during the last quarter. Franklin Resources Inc. purchased a new position in AudioEye in the 3rd quarter worth approximately $363,000. BNP Paribas Financial Markets boosted its holdings in shares of AudioEye by 345.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,202 shares of the company’s stock worth $256,000 after purchasing an additional 8,687 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of AudioEye by 202.5% in the second quarter. Renaissance Technologies LLC now owns 60,500 shares of the company’s stock valued at $1,065,000 after purchasing an additional 40,500 shares in the last quarter. 51.11% of the stock is currently owned by hedge funds and other institutional investors.

AudioEye Price Performance

Shares of AEYE opened at $18.94 on Friday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.84 and a quick ratio of 0.84. The company’s fifty day moving average price is $18.67 and its 200-day moving average price is $21.67. AudioEye has a 1-year low of $4.52 and a 1-year high of $34.85. The firm has a market capitalization of $230.69 million, a PE ratio of -70.15, a price-to-earnings-growth ratio of 2.47 and a beta of 1.12.

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.