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

Shares of AudioEye, Inc. (NASDAQ:AEYE) have earned a consensus recommendation of “Buy” from the six analysts that are currently covering the stock, Marketbeat.com 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 target price among brokers that have issued a report on the stock in the last year is $26.10.

AEYE has been the subject of a number of analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $25.00 price objective on shares of AudioEye in a research report on Thursday, March 13th. HC Wainwright reduced their price target on AudioEye from $37.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, March 13th.

Insider Buying and Selling at AudioEye

In other news, Director James B. Hawkins bought 13,300 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The shares were acquired at an average cost of $15.39 per share, with a total value of $204,687.00. Following the transaction, the director now owns 114,382 shares of the company’s stock, valued at $1,760,338.98. This represents a 13.16 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 40.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On AudioEye

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. R Squared Ltd purchased a new stake in shares of AudioEye during the 4th quarter worth about $36,000. Quarry LP purchased a new stake in AudioEye during the fourth quarter worth approximately $47,000. MetLife Investment Management LLC acquired a new stake in shares of AudioEye in the third quarter worth $54,000. Wells Fargo & Company MN raised its stake in shares of AudioEye by 30.0% in the 4th quarter. Wells Fargo & Company MN now owns 4,485 shares of the company’s stock valued at $68,000 after acquiring an additional 1,035 shares during the period. Finally, Ieq Capital LLC acquired a new position in shares of AudioEye during the 4th quarter valued at $153,000. 51.11% of the stock is currently owned by institutional investors and hedge funds.

AudioEye Trading Down 2.4 %

Shares of AEYE stock opened at $11.26 on Friday. The company has a market capitalization of $139.77 million, a price-to-earnings ratio of -41.70, a PEG ratio of 2.03 and a beta of 1.11. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.92. The firm has a 50-day moving average price of $15.17 and a 200 day moving average price of $19.47. AudioEye has a twelve month low of $8.44 and a twelve month high of $34.85.

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.