HC Wainwright Issues Positive Forecast for AudioEye (NASDAQ:AEYE) Stock Price

AudioEye (NASDAQ:AEYE - Get Free Report) had its price objective hoisted by HC Wainwright from $28.00 to $37.00 in a research report issued on Monday,Benzinga reports. The firm presently has a "buy" rating on the stock. HC Wainwright's price target suggests a potential upside of 9.99% from the stock's current price.

Several other brokerages have also commented on AEYE. Craig Hallum raised their price objective on shares of AudioEye from $20.00 to $30.00 and gave the stock a "buy" rating in a report on Friday, July 26th. Roth Mkm restated a "buy" rating and set a $35.00 price target (up from $25.00) on shares of AudioEye in a research report on Friday. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, AudioEye has a consensus rating of "Buy" and a consensus price target of $30.13.

AudioEye Trading Up 6.0 %

NASDAQ AEYE traded up $1.90 on Monday, hitting $33.64. The company's stock had a trading volume of 345,583 shares, compared to its average volume of 177,416. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.39. AudioEye has a 52-week low of $3.97 and a 52-week high of $34.85. The firm has a market cap of $399.61 million, a P/E ratio of -127.33, a PEG ratio of 6.91 and a beta of 1.03. The company's 50-day simple moving average is $23.05 and its 200 day simple moving average is $21.71.

Institutional Trading of AudioEye

Several hedge funds and other institutional investors have recently made changes to their positions in AEYE. Renaissance Technologies LLC grew its holdings 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 buying an additional 40,500 shares during the last quarter. ClariVest Asset Management LLC purchased a new stake in AudioEye during the 2nd quarter valued at $664,000. Bank of New York Mellon Corp bought a new stake in shares of AudioEye in the 2nd quarter worth $348,000. GSA Capital Partners LLP purchased a new position in shares of AudioEye in the third quarter worth $416,000. Finally, Acadian Asset Management LLC lifted its holdings in shares of AudioEye by 130.6% during the second quarter. Acadian Asset Management LLC now owns 26,939 shares of the company's stock valued at $473,000 after purchasing an additional 15,256 shares in the last quarter. 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.