Insider Buying: AudioEye, Inc. (NASDAQ:AEYE) Director Acquires 13,300 Shares of Stock

AudioEye, Inc. (NASDAQ:AEYE) Director James B. Hawkins purchased 13,300 shares of the stock in a transaction dated Wednesday, March 19th. The stock was 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 of the company’s stock, valued at approximately $1,760,338.98. The trade was a 13.16 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

AudioEye Stock Performance

Shares of AudioEye stock traded down $0.10 on Friday, reaching $11.39. The stock had a trading volume of 333,638 shares, compared to its average volume of 225,499. The business’s 50-day moving average price is $15.67 and its two-hundred day moving average price is $19.86. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.84 and a current ratio of 0.84. AudioEye, Inc. has a fifty-two week low of $8.44 and a fifty-two week high of $34.85. The stock has a market cap 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.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. HC Wainwright decreased their price target on shares of AudioEye from $37.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, March 13th. Needham & Company LLC reaffirmed a “buy” rating and set a $25.00 price target on shares of AudioEye in a research note on Thursday, March 13th. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $26.10.

Institutional Investors Weigh In On AudioEye

Several large investors have recently made changes to their positions in the company. MetLife Investment Management LLC bought a new stake in AudioEye during the 3rd quarter worth about $54,000. R Squared Ltd acquired a new stake in shares of AudioEye in the 4th quarter valued at approximately $36,000. Quarry LP acquired a new stake in shares of AudioEye in the 4th quarter valued at approximately $47,000. Wells Fargo & Company MN raised its holdings 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 buying an additional 1,035 shares during the period. Finally, Ieq Capital LLC acquired a new stake in AudioEye during the 4th quarter worth approximately $153,000. Institutional investors own 51.11% of the company’s stock.

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.