Brokerages Set AudioEye, Inc. (NASDAQ:AEYE) Target Price at $26.40

AudioEye, Inc. (NASDAQ:AEYE) has earned a consensus recommendation of “Buy” from the six analysts that are currently covering the company, Marketbeat reports. Five analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $26.40.

A number of equities research analysts have commented on the company. B. Riley reduced their price target on AudioEye from $26.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. HC Wainwright reiterated a “buy” rating and issued a $22.00 price target on shares of AudioEye in a research report on Wednesday, April 30th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $25.00 price target on shares of AudioEye in a research report on Wednesday, April 30th.

Insider Activity

In other AudioEye news, Director James B. Hawkins acquired 13,300 shares of the company’s stock in a transaction dated 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 purchase, the director now directly owns 114,382 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 28.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in AEYE. Alyeska Investment Group L.P. acquired a new position in shares of AudioEye in the 4th quarter valued at about $3,802,000. Hood River Capital Management LLC acquired a new position in shares of AudioEye in the 4th quarter valued at about $3,739,000. Jacobs Levy Equity Management Inc. acquired a new position in shares of AudioEye in the 1st quarter valued at about $1,664,000. Formula Growth Ltd. acquired a new position in shares of AudioEye in the 4th quarter valued at about $1,977,000. Finally, Nuveen LLC acquired a new position in AudioEye during the 1st quarter worth approximately $815,000. 51.11% of the stock is owned by institutional investors and hedge funds.

AudioEye Trading Up 4.5%

NASDAQ AEYE opened at $13.59 on Monday. The business’s 50-day moving average price is $11.65 and its two-hundred day moving average price is $16.50. AudioEye has a 12 month low of $8.91 and a 12 month high of $34.85. The firm has a market capitalization of $169.30 million, a PE ratio of -50.33, a price-to-earnings-growth ratio of 2.03 and a beta of 0.94. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.92.

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.