AudioEye, Inc. (NASDAQ:AEYE) Receives Consensus Recommendation of "Buy" from Analysts

AudioEye, Inc. (NASDAQ:AEYE - Get Free Report) has earned an average rating of "Buy" from the six brokerages that are 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 12-month price objective among brokers that have updated their coverage on the stock in the last year is $29.10.

A number of research analysts have issued reports on AEYE shares. Needham & Company LLC began coverage on shares of AudioEye in a report on Tuesday. They set a "buy" rating and a $25.00 target price on the stock. HC Wainwright raised their price objective on AudioEye from $28.00 to $37.00 and gave the stock a "buy" rating in a research note on Monday, November 11th. Finally, Roth Mkm reiterated 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.

AudioEye Stock Performance

Shares of AEYE stock traded up $0.14 on Tuesday, hitting $15.53. The company's stock had a trading volume of 280,383 shares, compared to its average volume of 204,171. AudioEye has a fifty-two week low of $4.52 and a fifty-two week high of $34.85. The company has a market capitalization of $189.12 million, a PE ratio of -57.52, a PEG ratio of 4.29 and a beta of 1.12. The stock's 50 day moving average is $21.82 and its 200-day moving average is $22.01. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.84 and a current ratio of 0.84.

Insider Activity

In other AudioEye news, CEO David Moradi sold 68,298 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $29.48, for a total value of $2,013,425.04. Following the completion of the transaction, the chief executive officer now directly owns 2,830,035 shares in the company, valued at approximately $83,429,431.80. This trade represents a 2.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Carr Bettis sold 225,000 shares of the business's stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $24.00, for a total value of $5,400,000.00. Following the sale, the insider now owns 200,045 shares in the company, valued at approximately $4,801,080. This trade represents a 52.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,342,859 shares of company stock worth $32,684,480. Insiders own 40.70% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Summit Partners Public Asset Management LLC raised its position in shares of AudioEye by 24.5% during the third 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 last quarter. Renaissance Technologies LLC lifted its position in shares of AudioEye by 202.5% in the 2nd 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 shares of AudioEye in the 2nd quarter valued at $664,000. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of AudioEye by 58.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 36,824 shares of the company's stock worth $841,000 after buying an additional 13,556 shares during the period. Finally, Acadian Asset Management LLC raised its stake in AudioEye by 130.6% during the second 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 last quarter. 51.11% of the stock is owned by institutional investors.

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.