AudioEye (NASDAQ:AEYE) Coverage Initiated at Needham & Company LLC

Investment analysts at Needham & Company LLC initiated coverage on shares of AudioEye (NASDAQ:AEYE) in a report released on Tuesday, MarketBeat Ratings reports. The firm set a “buy” rating and a $25.00 price target on the stock. Needham & Company LLC’s target price indicates a potential upside of 77.18% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. Roth Mkm reiterated a “buy” rating and issued a $35.00 target price (up from $25.00) on shares of AudioEye in a report on Friday, November 8th. HC Wainwright increased their target price on AudioEye from $28.00 to $37.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $29.10.

AudioEye Stock Performance

Shares of AEYE stock opened at $14.11 on Tuesday. The company has a market cap of $171.83 million, a price-to-earnings ratio of -52.26, a price-to-earnings-growth ratio of 4.29 and a beta of 1.12. AudioEye has a 52 week low of $4.52 and a 52 week high of $34.85. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.92. The firm has a 50 day moving average of $21.65 and a 200-day moving average of $21.96.

Insider Buying and Selling at AudioEye

In other news, CEO David Moradi sold 68,298 shares of AudioEye stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $29.48, for a total transaction of $2,013,425.04. Following the sale, the chief executive officer now directly owns 2,830,035 shares in the company, valued at $83,429,431.80. The trade was a 2.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Kelly Georgevich sold 10,000 shares of AudioEye 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 in the company, valued at $2,580,449. The trade was a 10.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,342,859 shares of company stock worth $32,684,480. Corporate insiders own 40.70% of the company’s stock.

Institutional Investors Weigh In On AudioEye

Hedge funds have recently made changes to their positions in the business. MetLife Investment Management LLC bought a new stake in shares of AudioEye during the 3rd quarter worth $54,000. CWM LLC bought a new stake in shares of AudioEye during the 3rd quarter worth $93,000. Rhumbline Advisers bought a new stake in shares of AudioEye during the 2nd quarter worth $147,000. Barclays PLC increased its holdings in AudioEye by 37.7% in the 3rd quarter. Barclays PLC now owns 10,181 shares of the company’s stock worth $233,000 after acquiring an additional 2,788 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in AudioEye in the 3rd quarter worth about $2,350,000. 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.