AudioEye, Inc. (NASDAQ:AEYE) Receives $29.10 Average Target Price from Analysts

AudioEye, Inc. (NASDAQ:AEYE) has received an average recommendation of “Buy” from the six research firms that are currently covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $29.10.

Several research analysts have recently weighed in on AEYE shares. Needham & Company LLC reissued a “buy” rating and issued a $25.00 price objective on shares of AudioEye in a research report on Tuesday, January 21st. Roth Mkm reissued a “buy” rating and issued a $35.00 price target (up from $25.00) on shares of AudioEye in a research note on Friday, November 8th. Finally, HC Wainwright raised their price objective 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.

Insiders Place Their Bets

In other AudioEye news, CFO Kelly Georgevich sold 10,000 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $29.00, for a total transaction of $290,000.00. Following the transaction, the chief financial officer now owns 88,981 shares in the company, valued at approximately $2,580,449. This represents a 10.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO David Moradi sold 68,298 shares of AudioEye stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $29.48, for a total transaction of $2,013,425.04. Following the transaction, the chief executive officer now owns 2,830,035 shares of the company’s stock, valued at $83,429,431.80. This represents a 2.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,342,859 shares of company stock worth $32,684,480. Corporate insiders own 40.70% of the company’s stock.

Hedge Funds Weigh In On AudioEye

Several large investors have recently added to or reduced their stakes in the business. Summit Partners Public Asset Management LLC increased its holdings in AudioEye by 24.5% during the 3rd quarter. Summit Partners Public Asset Management LLC now owns 515,279 shares of the company’s stock worth $11,774,000 after purchasing an additional 101,302 shares in the last quarter. Renaissance Technologies LLC grew its holdings in AudioEye by 202.5% during the second quarter. Renaissance Technologies LLC now owns 60,500 shares of the company’s stock worth $1,065,000 after buying an additional 40,500 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in AudioEye in the 4th quarter valued at $606,000. Bank of New York Mellon Corp lifted its stake in AudioEye by 187.4% during the 4th quarter. Bank of New York Mellon Corp now owns 46,860 shares of the company’s stock valued at $713,000 after acquiring an additional 30,556 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new position in AudioEye during the 3rd quarter worth $416,000. Institutional investors own 51.11% of the company’s stock.

AudioEye Price Performance

Shares of NASDAQ AEYE opened at $18.92 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.92. The company has a market capitalization of $230.41 million, a PE ratio of -70.07, a P/E/G ratio of 2.53 and a beta of 1.14. The firm has a fifty day simple moving average of $17.95 and a 200 day simple moving average of $21.61. AudioEye has a twelve month low of $4.52 and a twelve month high of $34.85.

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.