Zacks Investment Research Lowers AudioEye (NASDAQ:AEYE) to Sell

AudioEye (NASDAQ:AEYE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday, Zacks.com reports.

According to Zacks, “AudioEye Inc. engages in creating cloud-based cross-platform/cross-browser screen reader solution for web browsing. It focuses on creating voice driven technologies to enhance the mobility, usability, and accessibility of the Internet based content in the United States. The company develops patented, Internet content publication, and distribution software that enables conversion of any media into accessible formats, as well as allows for real time distribution on any Internet connected device. It offers Audio Internet (R), a software as a service technology platform to Internet and mobile publishers, developers, owners, and operators. AudioEye Inc. is based in Tucson, Arizona. “

AEYE has been the topic of a number of other research reports. Maxim Group lowered their target price on shares of AudioEye from $44.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, May 14th. HC Wainwright assumed coverage on shares of AudioEye in a research report on Monday, June 7th. They issued a “buy” rating and a $28.00 price objective for the company.

AEYE stock traded down $0.41 during midday trading on Thursday, hitting $14.49. The stock had a trading volume of 958 shares, compared to its average volume of 61,617. The firm has a market cap of $157.94 million, a price-to-earnings ratio of -17.05 and a beta of 2.15. The company has a current ratio of 3.13, a quick ratio of 3.13 and a debt-to-equity ratio of 0.04. AudioEye has a 1-year low of $11.25 and a 1-year high of $44.37. The company’s fifty day moving average price is $17.15.

AudioEye (NASDAQ:AEYE) last released its earnings results on Wednesday, May 12th. The company reported ($0.26) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.26). AudioEye had a negative net margin of 37.54% and a negative return on equity of 86.08%. The business had revenue of $5.79 million for the quarter, compared to analyst estimates of $6.00 million. Analysts predict that AudioEye will post -0.88 EPS for the current fiscal year.

In other AudioEye news, insider Carr Bettis sold 10,000 shares of the stock in a transaction that occurred on Thursday, July 8th. The shares were sold at an average price of $15.97, for a total value of $159,700.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold a total of 40,000 shares of company stock worth $653,300 over the last quarter. Corporate insiders own 45.10% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Dorsey Wright & Associates purchased a new stake in shares of AudioEye during the 1st quarter valued at $39,000. Banco Bilbao Vizcaya Argentaria S.A. bought a new position in shares of AudioEye during the 1st quarter valued at $137,000. Citigroup Inc. bought a new position in shares of AudioEye during the 4th quarter valued at $141,000. Barclays PLC bought a new position in shares of AudioEye during the 1st quarter valued at $169,000. Finally, UBS Group AG grew its holdings in shares of AudioEye by 1,486.9% during the 1st quarter. UBS Group AG now owns 7,268 shares of the company’s stock valued at $203,000 after purchasing an additional 6,810 shares during the last quarter. Hedge funds and other institutional investors own 15.66% of the company’s stock.

About AudioEye

AudioEye, Inc provides software solutions to Internet, print, broadcast, and other media to people regardless of their network connection, device, location, or disabilities in the United States. The company provides patented Internet content publication and distribution software that enables conversion of media into accessible formats, as well as allows for real time distribution on various Internet connected devices.

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