AudioEye (NASDAQ:AEYE) Price Target Lowered to $20.00 at B. Riley

AudioEye (NASDAQ:AEYE - Get Free Report) had its price target lowered by stock analysts at B. Riley from $26.00 to $20.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. B. Riley's target price would suggest a potential upside of 80.26% from the stock's previous close.

A number of other brokerages have also recently weighed in on AEYE. HC Wainwright cut their price objective 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 reaffirmed a "buy" rating and set a $25.00 price objective on shares of AudioEye in a research report on Wednesday, April 2nd. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, AudioEye currently has a consensus rating of "Buy" and an average price target of $26.40.

AudioEye Stock Up 1.4 %

AudioEye stock traded up $0.16 during trading hours on Tuesday, hitting $11.10. 59,050 shares of the stock traded hands, compared to its average volume of 220,773. AudioEye has a one year low of $8.91 and a one year high of $34.85. The firm's 50-day moving average price is $12.44 and its two-hundred day moving average price is $18.01. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.92. The company has a market cap of $137.88 million, a PE ratio of -41.09, a PEG ratio of 2.03 and a beta of 1.39.

Insider Transactions at AudioEye

In related news, Director James B. Hawkins acquired 13,300 shares of the firm's stock in a transaction dated Wednesday, March 19th. The shares were purchased at an average price of $15.39 per share, with a total value of $204,687.00. Following the completion of the purchase, the director now directly owns 114,382 shares of the company's stock, valued at $1,760,338.98. This represents a 13.16 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 40.70% of the company's stock.

Institutional Trading of AudioEye

Several institutional investors have recently made changes to their positions in AEYE. Rhumbline Advisers raised its holdings in shares of AudioEye by 14.5% during the 1st quarter. Rhumbline Advisers now owns 10,360 shares of the company's stock worth $115,000 after acquiring an additional 1,313 shares in the last quarter. GAMMA Investing LLC lifted its stake in AudioEye by 44,300.0% in the first quarter. GAMMA Investing LLC now owns 7,992 shares of the company's stock worth $89,000 after purchasing an additional 7,974 shares during the last quarter. Arcadia Wealth Management Inc. purchased a new position in shares of AudioEye during the fourth quarter valued at approximately $720,000. B. Riley Wealth Advisors Inc. raised its holdings in shares of AudioEye by 26.2% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 16,375 shares of the company's stock worth $249,000 after buying an additional 3,400 shares during the period. Finally, PharVision Advisers LLC bought a new stake in shares of AudioEye during the 4th quarter worth approximately $178,000. Hedge funds and other institutional investors own 51.11% of the company's stock.

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.

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