Needham & Company LLC Reiterates Buy Rating for AudioEye (NASDAQ:AEYE)

AudioEye (NASDAQ:AEYE)‘s stock had its “buy” rating restated by equities researchers at Needham & Company LLC in a research report issued on Thursday,Benzinga reports. They currently have a $25.00 price target on the stock. Needham & Company LLC’s target price suggests a potential upside of 120.46% from the stock’s previous close.

AudioEye Price Performance

NASDAQ AEYE opened at $11.34 on Thursday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.84 and a current ratio of 0.84. The firm’s 50 day moving average price is $15.99 and its 200-day moving average price is $20.29. AudioEye has a 52-week low of $8.14 and a 52-week high of $34.85. The company 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.

Hedge Funds Weigh In On AudioEye

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Arcadia Wealth Management Inc. bought a new position in shares of AudioEye during the fourth quarter valued at approximately $720,000. B. Riley Wealth Advisors Inc. boosted its stake in AudioEye by 26.2% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 16,375 shares of the company’s stock valued at $249,000 after acquiring an additional 3,400 shares in the last quarter. PharVision Advisers LLC acquired a new stake in AudioEye in the fourth quarter valued at approximately $178,000. Squarepoint Ops LLC boosted its stake in AudioEye by 139.1% in the fourth quarter. Squarepoint Ops LLC now owns 58,833 shares of the company’s stock valued at $895,000 after acquiring an additional 34,227 shares in the last quarter. Finally, Two Sigma Investments LP acquired a new stake in AudioEye in the fourth quarter valued at approximately $380,000. 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.