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

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

AEYE has been the subject of several research reports. Needham & Company LLC restated a “buy” rating and set a $25.00 price objective on shares of AudioEye in a research report on Tuesday, January 21st. HC Wainwright raised their price objective 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. Finally, Roth Mkm restated a “buy” rating and set a $35.00 price objective (up previously from $25.00) on shares of AudioEye in a research report on Friday, November 8th.

AudioEye Price Performance

AEYE opened at $18.79 on Friday. The company has a market cap of $228.82 million, a P/E ratio of -69.59, a P/E/G ratio of 2.53 and a beta of 1.12. The company has a 50 day moving average of $18.51 and a two-hundred day moving average of $21.65. 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 52-week low of $4.52 and a 52-week high of $34.85.

Insider Buying and Selling

In other news, CEO David Moradi sold 68,298 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $29.48, for a total value of $2,013,425.04. Following the completion of the transaction, the chief executive officer now owns 2,830,035 shares in the company, valued at $83,429,431.80. This trade represents a 2.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Carr Bettis sold 225,000 shares of AudioEye stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $24.00, for a total value of $5,400,000.00. Following the transaction, the insider now owns 200,045 shares of the company’s stock, valued at $4,801,080. The trade was a 52.94 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,342,859 shares of company stock worth $32,684,480. 40.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AudioEye

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. raised its stake in AudioEye by 7.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 22,361 shares of the company’s stock worth $511,000 after acquiring an additional 1,477 shares during the last quarter. MetLife Investment Management LLC purchased a new stake in shares of AudioEye during the third quarter worth $54,000. R Squared Ltd acquired a new position in shares of AudioEye during the fourth quarter worth $36,000. Barclays PLC grew its holdings in shares of AudioEye by 37.7% during the third quarter. Barclays PLC now owns 10,181 shares of the company’s stock worth $233,000 after purchasing an additional 2,788 shares during the last quarter. Finally, CWM LLC purchased a new position in shares of AudioEye during the third quarter worth about $93,000. 51.11% of the stock is currently owned by hedge funds and other 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.