AudioEye's (AEYE) "Buy" Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of AudioEye (NASDAQ:AEYE - Free Report) in a report issued on Tuesday morning,Benzinga reports. Needham & Company LLC currently has a $25.00 price objective on the stock.

Other analysts also recently issued research reports about the company. HC Wainwright lifted 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. Roth Mkm restated a "buy" rating and issued a $35.00 price target (up previously from $25.00) on shares of AudioEye in a research report on Friday, November 8th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $29.10.

AudioEye Price Performance

AEYE stock traded up $0.94 during midday trading on Tuesday, hitting $18.16. The company's stock had a trading volume of 236,047 shares, compared to its average volume of 221,976. The firm has a market capitalization of $221.19 million, a price-to-earnings ratio of -67.11, a price-to-earnings-growth ratio of 2.30 and a beta of 1.12. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.92. AudioEye has a 12 month low of $4.52 and a 12 month high of $34.85. The company has a 50 day moving average of $20.06 and a two-hundred day moving average of $21.82.

Insider Transactions at AudioEye

In related news, Director Jamil A. Tahir sold 125,000 shares of AudioEye stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $24.00, for a total transaction of $3,000,000.00. Following the transaction, the director now directly owns 195,000 shares of the company's stock, valued at $4,680,000. This trade represents a 39.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Kelly Georgevich sold 10,000 shares of the company'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. This represents a 10.10 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,342,859 shares of company stock valued at $32,684,480. 40.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AudioEye

A number of large investors have recently added to or reduced their stakes in AEYE. Summit Partners Public Asset Management LLC raised its stake 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 worth $11,774,000 after acquiring an additional 101,302 shares in the last quarter. Franklin Resources Inc. purchased a new stake in shares of AudioEye during the 3rd quarter valued at $363,000. BNP Paribas Financial Markets boosted its position in shares of 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. Renaissance Technologies LLC grew its stake in AudioEye by 202.5% during the 2nd quarter. Renaissance Technologies LLC now owns 60,500 shares of the company's stock worth $1,065,000 after buying an additional 40,500 shares during the last quarter. Finally, Centiva Capital LP acquired a new position in AudioEye during the 3rd quarter valued at about $286,000. 51.11% of the stock is currently owned by institutional investors.

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.