AudioEye, Inc. (NASDAQ:AEYE) Receives $29.10 Average Price Target from Brokerages

AudioEye, Inc. (NASDAQ:AEYE) has received a consensus rating of “Buy” from the six ratings firms that are covering the company, Marketbeat.com reports. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $29.10.

A number of equities research analysts have recently weighed in on AEYE shares. Roth Mkm reissued a “buy” rating and issued a $35.00 target price (up previously from $25.00) on shares of AudioEye in a research note on Friday, November 8th. HC Wainwright boosted their price objective on AudioEye from $28.00 to $37.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Finally, Needham & Company LLC initiated coverage on shares of AudioEye in a report on Tuesday, January 7th. They issued a “buy” rating and a $25.00 target price on the stock.

AudioEye Stock Performance

AudioEye stock opened at $14.78 on Tuesday. The firm has a fifty day simple moving average of $21.24 and a two-hundred day simple moving average of $21.93. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.92. AudioEye has a twelve month low of $4.52 and a twelve month high of $34.85. The company has a market capitalization of $179.99 million, a PE ratio of -54.74, a P/E/G ratio of 4.29 and a beta of 1.12.

Insider Activity

In related news, CEO David Moradi sold 68,298 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $29.48, for a total value of $2,013,425.04. Following the completion of the transaction, the chief executive officer now directly owns 2,830,035 shares of the company’s stock, valued at $83,429,431.80. This represents a 2.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Carr Bettis sold 225,000 shares of AudioEye stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $24.00, for a total value of $5,400,000.00. Following the sale, the insider now directly owns 200,045 shares in the company, valued at approximately $4,801,080. The trade was a 52.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,342,859 shares of company stock valued at $32,684,480. Company insiders own 40.70% of the company’s stock.

Hedge Funds Weigh In On AudioEye

A number of institutional investors have recently added to or reduced their stakes in AEYE. MetLife Investment Management LLC purchased a new stake in shares of AudioEye in the 3rd quarter worth about $54,000. CWM LLC purchased a new stake in AudioEye in the third quarter worth about $93,000. Rhumbline Advisers purchased a new stake in AudioEye in the second quarter worth about $147,000. Total Clarity Wealth Management Inc. purchased a new position in shares of AudioEye during the second quarter valued at approximately $221,000. Finally, Barclays PLC boosted its position in shares of AudioEye by 37.7% in the 3rd quarter. Barclays PLC now owns 10,181 shares of the company’s stock worth $233,000 after purchasing an additional 2,788 shares in the last quarter. Institutional investors own 51.11% of the company’s stock.

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.