AudioEye’s (AEYE) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of AudioEye (NASDAQ:AEYE) in a report published on Wednesday,Benzinga reports. Needham & Company LLC currently has a $25.00 price target on the stock.

Separately, HC Wainwright dropped their price target on shares of AudioEye from $37.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, March 13th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, AudioEye currently has a consensus rating of “Buy” and an average price target of $26.10.

AudioEye Trading Up 5.2 %

AudioEye stock opened at $11.88 on Wednesday. The firm has a market cap of $147.47 million, a PE ratio of -44.00, a P/E/G 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 stock’s 50 day simple moving average is $14.79 and its two-hundred day simple moving average is $19.26. 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 Buying and Selling

In related news, Director James B. Hawkins bought 13,300 shares of the company’s stock in a transaction dated Wednesday, March 19th. The shares were acquired at an average price of $15.39 per share, for a total transaction of $204,687.00. Following the completion of the transaction, the director now directly owns 114,382 shares in the company, valued at $1,760,338.98. This trade represents a 13.16 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 40.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. MetLife Investment Management LLC acquired a new position in shares of AudioEye during the third quarter valued at approximately $54,000. R Squared Ltd acquired a new position in AudioEye in the 4th quarter valued at $36,000. Quarry LP purchased a new position in AudioEye in the 4th quarter valued at $47,000. Wells Fargo & Company MN boosted its stake in AudioEye by 30.0% during the 4th quarter. Wells Fargo & Company MN now owns 4,485 shares of the company’s stock worth $68,000 after purchasing an additional 1,035 shares during the last quarter. Finally, Ieq Capital LLC purchased a new stake in shares of AudioEye during the fourth quarter worth $153,000. 51.11% of the stock is owned by hedge funds and other institutional investors.

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.