AudioEye (NASDAQ:AEYE) Coverage Initiated by Analysts at Needham & Company LLC

Needham & Company LLC initiated coverage on shares of AudioEye (NASDAQ:AEYE) in a research note published on Tuesday morning, Marketbeat reports. The firm issued a buy rating and a $25.00 price target on the stock.

Other equities research analysts have also issued reports about the company. Roth Mkm reiterated a “buy” rating and issued a $35.00 price objective (up from $25.00) on shares of AudioEye in a research note on Friday, November 8th. HC Wainwright upped their price target on AudioEye from $28.00 to $37.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Five 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 company has a consensus rating of “Buy” and a consensus target price of $29.10.

AudioEye Price Performance

Shares of AudioEye stock opened at $14.11 on Tuesday. AudioEye has a twelve month low of $4.52 and a twelve month high of $34.85. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a market cap of $171.83 million, a P/E ratio of -52.26, a price-to-earnings-growth ratio of 4.29 and a beta of 1.12. The firm’s 50-day simple moving average is $21.51 and its 200-day simple moving average is $21.90.

Insider Buying and Selling

In other AudioEye news, CEO David Moradi sold 68,298 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was 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 approximately $83,429,431.80. This represents a 2.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kelly Georgevich sold 10,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $29.00, for a total value of $290,000.00. Following the sale, the chief financial officer now owns 88,981 shares of the company’s stock, valued at approximately $2,580,449. The trade was a 10.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,342,859 shares of company stock worth $32,684,480 in the last three months. Insiders own 40.70% of the company’s stock.

Institutional Investors Weigh In On AudioEye

Several institutional investors have recently modified their holdings of the business. Summit Partners Public Asset Management LLC grew 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 acquiring an additional 101,302 shares during the period. Renaissance Technologies LLC grew its stake in shares of 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 purchasing an additional 40,500 shares during the period. ClariVest Asset Management LLC bought a new stake in AudioEye in the second quarter valued at about $664,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in AudioEye by 58.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 36,824 shares of the company’s stock valued at $841,000 after buying an additional 13,556 shares during the period. Finally, Acadian Asset Management LLC grew its position in shares of AudioEye by 130.6% during the 2nd 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. Institutional investors and hedge funds 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.