AudioEye, Inc. (NASDAQ:AEYE) Given Consensus Rating of "Buy" by Brokerages

AudioEye, Inc. (NASDAQ:AEYE - Get Free Report) has earned an average recommendation of "Buy" from the six brokerages that are covering the stock, Marketbeat reports. Five analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $29.10.

Several equities analysts have issued reports on the stock. Needham & Company LLC restated a "buy" rating and issued a $25.00 price target on shares of AudioEye in a research report on Tuesday, January 21st. Roth Mkm reaffirmed a "buy" rating and set a $35.00 target price (up from $25.00) on shares of AudioEye in a research report on Friday, November 8th. Finally, HC Wainwright lifted their target price on AudioEye from $28.00 to $37.00 and gave the stock a "buy" rating in a report on Monday, November 11th.

Insider Activity at AudioEye

In other AudioEye news, CFO Kelly Georgevich sold 10,000 shares of the firm's stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $29.00, for a total value of $290,000.00. Following the completion of the sale, the chief financial officer now directly owns 88,981 shares in the company, valued at approximately $2,580,449. This trade represents a 10.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO David Moradi sold 68,298 shares of AudioEye stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 2,830,035 shares of the company's stock, valued at approximately $83,429,431.80. This trade represents a 2.36 % decrease in their ownership of the stock. 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 90 days. Corporate insiders own 40.70% of the company's stock.

Institutional Investors Weigh In On AudioEye

A number of hedge funds have recently added to or reduced their stakes in AEYE. Summit Partners Public Asset Management LLC lifted its holdings in shares of AudioEye by 24.5% in 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. Barclays PLC lifted its holdings in shares of AudioEye by 37.7% in the third quarter. Barclays PLC now owns 10,181 shares of the company's stock valued at $233,000 after purchasing an additional 2,788 shares in the last quarter. Franklin Resources Inc. purchased a new position in AudioEye during the 3rd quarter worth $363,000. BNP Paribas Financial Markets grew its position in AudioEye by 345.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,202 shares of the company's stock worth $256,000 after purchasing an additional 8,687 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of AudioEye by 202.5% during the second quarter. Renaissance Technologies LLC now owns 60,500 shares of the company's stock valued at $1,065,000 after acquiring an additional 40,500 shares during the last quarter. Institutional investors and hedge funds own 51.11% of the company's stock.

AudioEye Trading Up 6.4 %

Shares of AudioEye stock traded up $1.21 on Friday, hitting $20.00. The stock had a trading volume of 167,235 shares, compared to its average volume of 196,342. The stock has a 50 day moving average of $18.39 and a 200 day moving average of $21.65. The firm has a market capitalization of $243.60 million, a P/E ratio of -74.07, a PEG ratio of 2.53 and a beta of 1.14. 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.

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.