HC Wainwright Lowers AudioEye (NASDAQ:AEYE) Price Target to $22.00

AudioEye (NASDAQ:AEYE) had its target price decreased by research analysts at HC Wainwright from $37.00 to $22.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price target would suggest a potential upside of 94.00% from the stock’s previous close.

Separately, Needham & Company LLC reiterated a “buy” rating and issued a $25.00 target price on shares of AudioEye in a report on Thursday. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, AudioEye presently has a consensus rating of “Buy” and an average price target of $26.10.

AudioEye Stock Up 3.4 %

Shares of NASDAQ AEYE opened at $11.34 on Thursday. AudioEye has a 12-month low of $8.14 and a 12-month high of $34.85. The stock has a market cap of $138.10 million, a PE ratio of -42.00, a P/E/G ratio of 2.03 and a beta of 1.11. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.92. The company has a 50-day moving average of $15.99 and a 200 day moving average of $20.29.

Hedge Funds Weigh In On AudioEye

Large investors have recently made changes to their positions in the stock. R Squared Ltd acquired a new position in shares of AudioEye in the 4th quarter worth approximately $36,000. Quarry LP acquired a new position in shares of AudioEye in the 4th quarter worth approximately $47,000. MetLife Investment Management LLC acquired a new position in shares of AudioEye in the 3rd quarter worth approximately $54,000. Wells Fargo & Company MN lifted its holdings in shares of AudioEye by 30.0% in the 4th quarter. Wells Fargo & Company MN now owns 4,485 shares of the company’s stock worth $68,000 after acquiring an additional 1,035 shares during the last quarter. Finally, Ieq Capital LLC acquired a new position in shares of AudioEye in the 4th quarter worth approximately $153,000. 51.11% of the stock is currently owned by institutional investors and hedge funds.

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.