Analysts Set AudioEye, Inc. (NASDAQ:AEYE) Target Price at $29.10

Shares of AudioEye, Inc. (NASDAQ:AEYE) have been given an average recommendation of “Buy” by the six brokerages that are presently covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $29.10.

A number of research analysts have recently commented on the company. Roth Mkm reiterated a “buy” rating and set a $35.00 target price (up from $25.00) on shares of AudioEye in a research report on Friday, November 8th. Needham & Company LLC started coverage on shares of AudioEye in a research note on Tuesday. They issued a “buy” rating and a $25.00 price objective for the company. Finally, HC Wainwright upped their target price on shares of AudioEye from $28.00 to $37.00 and gave the company a “buy” rating in a research report on Monday, November 11th.

AudioEye Price Performance

Shares of AudioEye stock opened at $14.11 on Tuesday. The firm has a market cap of $171.83 million, a PE ratio of -52.26, a PEG ratio of 4.29 and a beta of 1.12. The stock has a 50 day moving average of $21.51 and a 200 day moving average of $21.90. 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 12 month low of $4.52 and a 12 month high of $34.85.

Insider Buying and Selling

In related news, insider Carr Bettis sold 225,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $24.00, for a total value of $5,400,000.00. Following the completion of the sale, the insider now owns 200,045 shares in the company, valued at approximately $4,801,080. The trade was a 52.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David Moradi sold 900,000 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $24.00, for a total value of $21,600,000.00. Following the completion of the sale, the chief executive officer now owns 1,864,290 shares of the company’s stock, valued at $44,742,960. This represents a 32.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,342,859 shares of company stock valued at $32,684,480 in the last ninety days. 40.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On AudioEye

Institutional investors have recently made changes to their positions in the company. Summit Partners Public Asset Management LLC raised its stake in AudioEye by 24.5% in the third quarter. Summit Partners Public Asset Management LLC now owns 515,279 shares of the company’s stock worth $11,774,000 after buying an additional 101,302 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of 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 purchasing an additional 40,500 shares during the last quarter. ClariVest Asset Management LLC bought a new stake in AudioEye during the second quarter valued at about $664,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in AudioEye by 58.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 36,824 shares of the company’s stock valued at $841,000 after purchasing an additional 13,556 shares during the last quarter. Finally, Acadian Asset Management LLC raised its holdings in AudioEye by 130.6% in the second quarter. Acadian Asset Management LLC now owns 26,939 shares of the company’s stock worth $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.

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.