HC Wainwright Boosts AudioEye (NASDAQ:AEYE) Price Target to $28.00

AudioEye (NASDAQ:AEYE) had its price target lifted by HC Wainwright from $23.00 to $28.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s target price points to a potential upside of 25.11% from the stock’s current price.

Several other brokerages have also recently issued reports on AEYE. Craig Hallum upped their price objective on AudioEye from $20.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Roth Capital raised AudioEye to a “strong-buy” rating in a research report on Friday, June 21st. Finally, Roth Mkm started coverage on AudioEye in a research note on Friday, June 21st. They set a “buy” rating and a $25.00 price objective on the stock. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $25.38.

AudioEye Price Performance

AEYE stock opened at $22.38 on Tuesday. The company has a market capitalization of $260.48 million, a PE ratio of -57.38, a P/E/G ratio of 6.50 and a beta of 1.00. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.39. The stock’s 50 day moving average is $22.48 and its two-hundred day moving average is $19.26. AudioEye has a 52-week low of $3.75 and a 52-week high of $29.30.

AudioEye (NASDAQ:AEYE) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.02. The firm had revenue of $8.47 million for the quarter, compared to the consensus estimate of $8.45 million. AudioEye had a negative net margin of 10.70% and a positive return on equity of 12.34%. Analysts predict that AudioEye will post 0.14 earnings per share for the current fiscal year.

Institutional Trading of AudioEye

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC bought a new position in AudioEye during the 1st quarter worth $116,000. B. Riley Wealth Advisors Inc. grew its position in shares of AudioEye by 4.0% during the first quarter. B. Riley Wealth Advisors Inc. now owns 12,975 shares of the company’s stock worth $130,000 after acquiring an additional 500 shares during the last quarter. Hillsdale Investment Management Inc. acquired a new stake in shares of AudioEye in the 1st quarter worth about $137,000. Palisades Hudson Asset Management L.P. bought a new stake in AudioEye in the 2nd quarter valued at about $142,000. Finally, Rhumbline Advisers acquired a new position in AudioEye during the 2nd quarter valued at about $147,000. 51.11% of the stock is currently owned by institutional investors and hedge funds.

About AudioEye

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.