AudioEye, Inc. (NASDAQ:AEYE) Receives Average Rating of “Buy” from Brokerages

AudioEye, Inc. (NASDAQ:AEYE) has been given a consensus rating of “Buy” by the six brokerages that are presently covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $26.10.

Several equities research analysts recently issued reports on AEYE shares. Needham & Company LLC reissued a “buy” rating and set a $25.00 price objective on shares of AudioEye in a research note on Thursday, March 13th. HC Wainwright dropped their price target on AudioEye from $37.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, March 13th.

AudioEye Price Performance

AEYE stock opened at $11.39 on Friday. The firm has a 50 day moving average of $15.59 and a 200-day moving average of $19.76. The firm has a market capitalization of $141.38 million, a P/E ratio of -42.19, a price-to-earnings-growth ratio of 2.03 and a beta of 1.11. AudioEye has a 12 month low of $8.44 and a 12 month high of $34.85. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.92.

Insider Transactions at AudioEye

In other news, Director James B. Hawkins acquired 13,300 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The shares were bought at an average cost of $15.39 per share, with a total value of $204,687.00. Following the acquisition, the director now owns 114,382 shares in the company, valued at approximately $1,760,338.98. This represents a 13.16 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 40.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Summit Partners Public Asset Management LLC lifted its holdings in shares of AudioEye by 24.5% in the 3rd quarter. Summit Partners Public Asset Management LLC now owns 515,279 shares of the company’s stock worth $11,774,000 after acquiring an additional 101,302 shares during the last quarter. Barclays PLC raised its position in AudioEye by 37.7% in the 3rd 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 period. Franklin Resources Inc. purchased a new stake in AudioEye during the third quarter valued at about $363,000. BNP Paribas Financial Markets grew its stake in shares of AudioEye by 345.4% during the third quarter. BNP Paribas Financial Markets now owns 11,202 shares of the company’s stock valued at $256,000 after buying an additional 8,687 shares during the last quarter. Finally, Centiva Capital LP purchased a new position in shares of AudioEye in the third quarter worth about $286,000. 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.