AudioEye, Inc. (NASDAQ:AEYE) Receives Average Recommendation of "Buy" from Brokerages

AudioEye, Inc. (NASDAQ:AEYE - Get Free Report) has been assigned an average recommendation of "Buy" from the six analysts that are covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $26.10.

Several brokerages recently issued reports on AEYE. HC Wainwright decreased their price target on shares of AudioEye from $37.00 to $22.00 and set a "buy" rating on the stock in a report on Thursday, March 13th. Needham & Company LLC reissued a "buy" rating and issued a $25.00 price objective on shares of AudioEye in a research note on Wednesday, April 2nd.

Insider Buying and Selling at AudioEye

In related news, Director James B. Hawkins bought 13,300 shares of the business's stock in a transaction that occurred on Wednesday, March 19th. The shares were bought at an average price of $15.39 per share, with a total value of $204,687.00. Following the completion of the transaction, the director now directly owns 114,382 shares in the company, valued at approximately $1,760,338.98. This represents a 13.16 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 40.70% of the company's stock.

Hedge Funds Weigh In On AudioEye

Large investors have recently bought and sold shares of the stock. R Squared Ltd purchased a new position in AudioEye in the fourth quarter worth $36,000. Quarry LP bought a new position in AudioEye in the 4th quarter worth about $47,000. Wells Fargo & Company MN lifted its stake in AudioEye by 30.0% in the 4th quarter. Wells Fargo & Company MN now owns 4,485 shares of the company's stock worth $68,000 after purchasing an additional 1,035 shares in the last quarter. GAMMA Investing LLC boosted its stake in AudioEye by 44,300.0% during the first quarter. GAMMA Investing LLC now owns 7,992 shares of the company's stock valued at $89,000 after buying an additional 7,974 shares during the period. Finally, Ieq Capital LLC purchased a new position in shares of AudioEye during the fourth quarter worth about $153,000. 51.11% of the stock is currently owned by institutional investors.

AudioEye Price Performance

AudioEye stock traded down $0.24 during trading hours on Thursday, reaching $11.30. 96,111 shares of the stock were exchanged, compared to its average volume of 221,818. The stock has a 50 day moving average of $12.58 and a two-hundred day moving average of $18.15. The company has a market cap of $140.27 million, a P/E ratio of -41.85, a price-to-earnings-growth ratio of 2.03 and a beta of 1.39. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.92. AudioEye has a twelve month low of $8.91 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.