Needham & Company LLC Begins Coverage on AudioEye (NASDAQ:AEYE)

Stock analysts at Needham & Company LLC assumed coverage on shares of AudioEye (NASDAQ:AEYE) in a research report issued on Tuesday,Benzinga reports. The firm set a “buy” rating and a $25.00 price target on the stock. Needham & Company LLC’s price target would indicate a potential upside of 62.44% from the company’s previous close.

A number of other equities research analysts have also recently commented on the company. HC Wainwright raised their target price on AudioEye from $28.00 to $37.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Roth Mkm reissued a “buy” rating and issued a $35.00 price objective (up from $25.00) on shares of AudioEye in a report on Friday, November 8th. 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 MarketBeat.com, AudioEye has a consensus rating of “Buy” and an average target price of $29.10.

AudioEye Stock Performance

AEYE opened at $15.39 on Tuesday. The firm has a fifty day moving average price of $21.96 and a 200 day moving average price of $22.03. AudioEye has a 1 year low of $4.52 and a 1 year high of $34.85. The stock has a market cap of $187.42 million, a P/E ratio of -57.00, a P/E/G ratio of 4.29 and a beta of 1.12. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.84 and a quick ratio of 0.84.

Insiders Place Their Bets

In other AudioEye news, CEO David Moradi sold 900,000 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $24.00, for a total value of $21,600,000.00. Following the transaction, the chief executive officer now owns 1,864,290 shares in the company, valued at approximately $44,742,960. This trade represents a 32.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jamil A. Tahir sold 125,000 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $24.00, for a total transaction of $3,000,000.00. Following the sale, the director now directly owns 195,000 shares of the company’s stock, valued at $4,680,000. The trade was a 39.06 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,342,859 shares of company stock worth $32,684,480. Corporate insiders own 40.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of AEYE. Charles Schwab Investment Management Inc. grew its position in shares of AudioEye by 7.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 22,361 shares of the company’s stock valued at $511,000 after purchasing an additional 1,477 shares in the last quarter. MetLife Investment Management LLC acquired a new position in AudioEye during the third quarter worth $54,000. Barclays PLC grew its holdings in AudioEye by 37.7% in the 3rd quarter. Barclays PLC now owns 10,181 shares of the company’s stock valued at $233,000 after buying an additional 2,788 shares in the last quarter. CWM LLC acquired a new stake in shares of AudioEye in the 3rd quarter worth $93,000. Finally, Rhumbline Advisers purchased a new position in shares of AudioEye during the 2nd quarter worth $147,000. 51.11% of the stock is owned by hedge funds and other 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.