AudioEye, Inc. (NASDAQ:AEYE) Receives $29.10 Consensus Target Price from Brokerages

AudioEye, Inc. (NASDAQ:AEYE) has been assigned a consensus recommendation of “Buy” from the six brokerages that are presently covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $29.10.

AEYE has been the subject of several research analyst reports. HC Wainwright lifted their target price on AudioEye from $28.00 to $37.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Roth Mkm restated a “buy” rating and issued a $35.00 price target (up from $25.00) on shares of AudioEye in a research note on Friday, November 8th. Finally, Needham & Company LLC restated a “buy” rating and issued a $25.00 price target on shares of AudioEye in a research note on Tuesday, January 21st.

Insider Activity at AudioEye

In other AudioEye news, Director Jamil A. Tahir sold 125,000 shares of AudioEye stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $24.00, for a total value of $3,000,000.00. Following the completion of the transaction, the director now directly owns 195,000 shares of the company’s stock, valued at $4,680,000. The trade was a 39.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David Moradi sold 900,000 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 $21,600,000.00. Following the completion of the transaction, the chief executive officer now directly 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 sold 1,250,000 shares of company stock worth $30,000,000 in the last ninety days. 40.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On AudioEye

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AEYE. International Assets Investment Management LLC acquired a new position in AudioEye in the 3rd quarter valued at $2,350,000. GSA Capital Partners LLP acquired a new position in AudioEye in the 3rd quarter valued at $416,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in AudioEye by 58.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 36,824 shares of the company’s stock valued at $841,000 after acquiring an additional 13,556 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of AudioEye by 7.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 22,361 shares of the company’s stock worth $511,000 after buying an additional 1,477 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of AudioEye by 345.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,202 shares of the company’s stock worth $256,000 after buying an additional 8,687 shares in the last quarter. 51.11% of the stock is owned by institutional investors and hedge funds.

AudioEye Stock Performance

Shares of NASDAQ AEYE opened at $13.01 on Wednesday. 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 $6.58 and a 12 month high of $34.85. The stock has a 50 day moving average of $16.72 and a 200-day moving average of $20.94. The company has a market capitalization of $158.46 million, a P/E ratio of -48.19, a P/E/G ratio of 2.03 and a beta of 1.14.

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.