Needham & Company LLC Reiterates Buy Rating for AudioEye (NASDAQ:AEYE)

Needham & Company LLC restated their buy rating on shares of AudioEye (NASDAQ:AEYE) in a report issued on Tuesday, Marketbeat.com reports. The brokerage currently has a $25.00 price target on the stock.

Several other research firms also recently weighed in on AEYE. HC Wainwright increased their price target on shares of AudioEye from $28.00 to $37.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Roth Mkm reiterated a “buy” rating and issued a $35.00 price target (up previously from $25.00) on shares of AudioEye in a research report on Friday, November 8th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $29.10.

AudioEye Trading Down 2.1 %

NASDAQ:AEYE opened at $17.75 on Tuesday. AudioEye has a 52 week low of $4.52 and a 52 week high of $34.85. The company’s 50 day moving average price is $19.52 and its 200-day moving average price is $21.76. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.92. The stock has a market cap of $216.20 million, a price-to-earnings ratio of -65.74, a PEG ratio of 2.42 and a beta of 1.12.

Insider Activity

In other AudioEye news, CEO David Moradi sold 68,298 shares of AudioEye stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $29.48, for a total transaction of $2,013,425.04. Following the completion of the sale, the chief executive officer now directly owns 2,830,035 shares in the company, valued at approximately $83,429,431.80. The trade was a 2.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Kelly Georgevich sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $29.00, for a total value of $290,000.00. Following the completion of the transaction, the chief financial officer now directly owns 88,981 shares of the company’s stock, valued at $2,580,449. The trade was a 10.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,342,859 shares of company stock worth $32,684,480. 40.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On AudioEye

Several institutional investors have recently bought and sold shares of AEYE. R Squared Ltd purchased a new position in AudioEye during the fourth quarter worth about $36,000. MetLife Investment Management LLC acquired a new stake in AudioEye during the third quarter worth approximately $54,000. CWM LLC acquired a new stake in shares of AudioEye in the 3rd quarter valued at about $93,000. Rhumbline Advisers purchased a new stake in shares of AudioEye in the second quarter valued at about $147,000. Finally, Barclays PLC lifted its holdings in shares of AudioEye by 37.7% during the third quarter. Barclays PLC now owns 10,181 shares of the company’s stock worth $233,000 after purchasing an additional 2,788 shares during the period. 51.11% of the stock is currently owned by institutional investors and hedge funds.

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.