AudioEye, Inc. (NASDAQ:AEYE) Given Consensus Recommendation of “Buy” by Analysts

Shares of AudioEye, Inc. (NASDAQ:AEYE) have earned a consensus rating of “Buy” from the six research firms that are presently covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $26.10.

A number of equities research analysts have commented on the stock. HC Wainwright reduced their price target on shares of AudioEye from $37.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, March 13th. Needham & Company LLC restated a “buy” rating and issued a $25.00 target price on shares of AudioEye in a research note on Thursday, March 13th.

AudioEye Price Performance

AudioEye stock opened at $11.39 on Friday. The stock has a market capitalization of $141.38 million, a price-to-earnings ratio of -42.19, a PEG ratio of 2.03 and a beta of 1.11. AudioEye has a 52-week low of $8.44 and a 52-week high of $34.85. 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 stock’s 50 day moving average price is $15.59 and its two-hundred day moving average price is $19.76.

Insider Transactions at AudioEye

In other AudioEye news, Director James B. Hawkins bought 13,300 shares of the business’s stock in a transaction dated Wednesday, March 19th. The shares were purchased at an average price of $15.39 per share, for a total transaction of $204,687.00. Following the purchase, the director now directly owns 114,382 shares of the company’s stock, valued at approximately $1,760,338.98. This represents a 13.16 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 40.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. increased its position in AudioEye by 58.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 36,824 shares of the company’s stock worth $841,000 after buying an additional 13,556 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in AudioEye by 7.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 22,361 shares of the company’s stock worth $511,000 after acquiring an additional 1,477 shares during the last quarter. BNP Paribas Financial Markets raised its stake in AudioEye by 345.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,202 shares of the company’s stock valued at $256,000 after acquiring an additional 8,687 shares during the period. MetLife Investment Management LLC purchased a new stake in AudioEye during the third quarter valued at about $54,000. Finally, Summit Partners Public Asset Management LLC boosted its position in AudioEye by 24.5% during the third quarter. Summit Partners Public Asset Management LLC now owns 515,279 shares of the company’s stock worth $11,774,000 after purchasing an additional 101,302 shares during the period. 51.11% of the stock is owned by 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.