David Moradi Acquires 29,947 Shares of AudioEye, Inc. (NASDAQ:AEYE) Stock

AudioEye, Inc. (NASDAQ:AEYE) CEO David Moradi acquired 29,947 shares of the company’s stock in a transaction dated Friday, September 15th. The shares were bought at an average cost of $5.59 per share, with a total value of $167,403.73. Following the completion of the acquisition, the chief executive officer now directly owns 2,898,333 shares in the company, valued at approximately $16,201,681.47. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

AudioEye Stock Down 5.3 %

Shares of NASDAQ:AEYE opened at $5.35 on Tuesday. The stock has a market cap of $63.18 million, a PE ratio of -7.54 and a beta of 1.08. The company’s fifty day moving average is $5.08 and its 200 day moving average is $5.67. AudioEye, Inc. has a 52 week low of $3.37 and a 52 week high of $7.89.

AudioEye (NASDAQ:AEYE) last issued its earnings results on Thursday, August 10th. The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.01. The company had revenue of $7.84 million for the quarter, compared to analysts’ expectations of $7.85 million. AudioEye had a negative net margin of 26.38% and a negative return on equity of 66.49%. Sell-side analysts anticipate that AudioEye, Inc. will post -0.39 EPS for the current year.

Hedge Funds Weigh In On AudioEye

A number of hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC purchased a new position in shares of AudioEye in the second quarter valued at about $59,000. BlackRock Inc. increased its position in shares of AudioEye by 6.9% in the second quarter. BlackRock Inc. now owns 30,344 shares of the company’s stock valued at $148,000 after acquiring an additional 1,965 shares during the period. Anchor Capital Advisors LLC increased its position in shares of AudioEye by 13.3% in the second quarter. Anchor Capital Advisors LLC now owns 114,968 shares of the company’s stock valued at $562,000 after acquiring an additional 13,466 shares during the period. Bank of America Corp DE increased its position in shares of AudioEye by 4,864.2% in the first quarter. Bank of America Corp DE now owns 8,042 shares of the company’s stock valued at $57,000 after acquiring an additional 7,880 shares during the period. Finally, Mendota Financial Group LLC increased its position in shares of AudioEye by 86.4% in the first quarter. Mendota Financial Group LLC now owns 75,315 shares of the company’s stock valued at $513,000 after acquiring an additional 34,905 shares during the period. Hedge funds and other institutional investors own 15.67% of the company’s stock.

Wall Street Analysts Forecast Growth

AEYE has been the subject of a number of research analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $10.00 price objective on shares of AudioEye in a report on Friday, August 11th. B. Riley dropped their price objective on shares of AudioEye from $9.00 to $8.00 and set a “buy” rating for the company in a report on Friday, August 11th.

AudioEye Company Profile

AudioEye, Inc provides patented, internet content publication, distribution software, and related services to Internet and other media to people regardless of their network connection, 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.