AudioEye, Inc. (NASDAQ:AEYE) Given Consensus Rating of “Buy” by Analysts

Shares of AudioEye, Inc. (NASDAQ:AEYE) have been assigned a consensus rating of “Buy” from the six ratings firms that are covering the company, Marketbeat reports. Five analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $29.10.

Several equities research analysts have commented on the stock. HC Wainwright boosted their target price 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. Roth Mkm reaffirmed a “buy” rating and set a $35.00 price objective (up from $25.00) on shares of AudioEye in a report on Friday, November 8th. Finally, Needham & Company LLC assumed coverage on shares of AudioEye in a research report on Tuesday. They set a “buy” rating and a $25.00 target price for the company.

AudioEye Price Performance

Shares of AEYE opened at $15.39 on Tuesday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.92. The stock’s 50 day moving average is $21.96 and its two-hundred day moving average is $22.03. AudioEye has a twelve month low of $4.52 and a twelve month high of $34.85. The firm has a market capitalization of $187.42 million, a PE ratio of -57.00, a P/E/G ratio of 4.29 and a beta of 1.12.

Insider Buying and Selling at AudioEye

In other news, Director Jamil A. Tahir sold 125,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $24.00, for a total transaction of $3,000,000.00. Following the completion of the transaction, the director now directly owns 195,000 shares of the company’s stock, valued at approximately $4,680,000. This represents a 39.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Carr Bettis sold 225,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $24.00, for a total value of $5,400,000.00. Following the completion of the sale, the insider now directly owns 200,045 shares in the company, valued at approximately $4,801,080. This trade represents a 52.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,342,859 shares of company stock valued at $32,684,480 in the last ninety days. Insiders own 40.70% of the company’s stock.

Institutional Investors Weigh In On AudioEye

A number of hedge funds have recently made changes to their positions in AEYE. Bank of New York Mellon Corp bought a new stake in shares of AudioEye in the 2nd quarter worth $348,000. Rhumbline Advisers acquired a new position in shares of AudioEye in the second quarter worth about $147,000. Acadian Asset Management LLC boosted its holdings in shares of AudioEye by 130.6% in the second quarter. Acadian Asset Management LLC now owns 26,939 shares of the company’s stock worth $473,000 after buying an additional 15,256 shares during the period. ClariVest Asset Management LLC acquired a new stake in shares of AudioEye during the second quarter valued at approximately $664,000. Finally, Total Clarity Wealth Management Inc. purchased a new position in shares of AudioEye during the second quarter valued at $221,000. Institutional investors own 51.11% of the company’s stock.

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.