AudioEye, Inc. (NASDAQ:AEYE) Receives Average Rating of “Buy” from Brokerages

AudioEye, Inc. (NASDAQ:AEYE) has earned a consensus recommendation of “Buy” from the six analysts that are presently covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $29.10.

AEYE has been the subject of a number of recent analyst reports. HC Wainwright boosted their target price on AudioEye from $28.00 to $37.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Needham & Company LLC reaffirmed a “buy” rating and set a $25.00 price target on shares of AudioEye in a research report on Tuesday, January 21st. Finally, Roth Mkm reaffirmed a “buy” rating and set a $35.00 price target (up previously from $25.00) on shares of AudioEye in a research report on Friday, November 8th.

Insider Activity at AudioEye

In related news, CEO David Moradi sold 900,000 shares of the business’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 $21,600,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,864,290 shares in the company, valued at approximately $44,742,960. The trade was a 32.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 value of $3,000,000.00. Following the completion of the transaction, the director now owns 195,000 shares of the company’s stock, valued at $4,680,000. The trade was a 39.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,250,000 shares of company stock worth $30,000,000. 40.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Summit Partners Public Asset Management LLC boosted its position in shares of AudioEye by 24.5% during the 3rd quarter. Summit Partners Public Asset Management LLC now owns 515,279 shares of the company’s stock valued at $11,774,000 after acquiring an additional 101,302 shares during the last quarter. Barclays PLC increased its stake in AudioEye by 37.7% in the third quarter. Barclays PLC now owns 10,181 shares of the company’s stock worth $233,000 after purchasing an additional 2,788 shares during the period. Franklin Resources Inc. bought a new position in shares of AudioEye during the 3rd quarter worth $363,000. BNP Paribas Financial Markets grew its position in shares of AudioEye by 345.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,202 shares of the company’s stock worth $256,000 after buying an additional 8,687 shares in the last quarter. Finally, Centiva Capital LP bought a new position in shares of AudioEye during the 3rd quarter worth $286,000. 51.11% of the stock is currently owned by institutional investors.

AudioEye Price Performance

Shares of NASDAQ:AEYE opened at $13.37 on Wednesday. AudioEye has a fifty-two week low of $6.30 and a fifty-two week high of $34.85. The business has a 50-day simple moving average of $16.92 and a two-hundred day simple moving average of $21.10. 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 $162.85 million, a price-to-earnings ratio of -49.52, a price-to-earnings-growth ratio of 2.03 and a beta of 1.14.

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.