AudioEye, Inc. (NASDAQ:AEYE) Receives $26.40 Average PT from Analysts

AudioEye, Inc. (NASDAQ:AEYE) has been assigned a consensus rating of “Buy” from the six brokerages that are covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $26.40.

Several brokerages recently commented on AEYE. Wall Street Zen upgraded shares of AudioEye from a “hold” rating to a “buy” rating in a research note on Saturday, May 24th. B. Riley lowered their target price on shares of AudioEye from $26.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. HC Wainwright restated a “buy” rating and set a $22.00 target price on shares of AudioEye in a research report on Wednesday, April 30th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $25.00 price target on shares of AudioEye in a report on Wednesday, April 30th.

Insider Activity at AudioEye

In related news, Director James B. Hawkins acquired 13,300 shares of the company’s stock in a transaction on Wednesday, March 19th. The shares were purchased at an average price of $15.39 per share, for a total transaction of $204,687.00. Following the purchase, the director now owns 114,382 shares in the company, valued at $1,760,338.98. This represents a 13.16% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 28.80% of the company’s stock.

Institutional Trading of AudioEye

Several large investors have recently modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in AudioEye in the 4th quarter valued at about $606,000. Bank of New York Mellon Corp lifted its position in shares of AudioEye by 187.4% in the fourth quarter. Bank of New York Mellon Corp now owns 46,860 shares of the company’s stock worth $713,000 after purchasing an additional 30,556 shares in the last quarter. Millennium Management LLC lifted its position in shares of AudioEye by 17.4% in the fourth quarter. Millennium Management LLC now owns 42,288 shares of the company’s stock worth $643,000 after purchasing an additional 6,278 shares in the last quarter. Bank of America Corp DE increased its holdings in AudioEye by 314.5% during the fourth quarter. Bank of America Corp DE now owns 59,206 shares of the company’s stock worth $901,000 after buying an additional 44,923 shares during the last quarter. Finally, Hood River Capital Management LLC acquired a new position in AudioEye during the fourth quarter worth $3,739,000. 51.11% of the stock is owned by institutional investors.

AudioEye Stock Down 1.0%

AEYE opened at $12.28 on Friday. The company has a market cap of $152.98 million, a PE ratio of -45.48, a price-to-earnings-growth ratio of 2.03 and a beta of 0.94. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.92. AudioEye has a twelve month low of $8.91 and a twelve month high of $34.85. The company has a 50-day moving average price of $11.93 and a 200 day moving average price of $14.94.

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.