AudioEye (NASDAQ:AEYE) PT Raised to $30.00 at Craig Hallum

AudioEye (NASDAQ:AEYE) had its target price raised by stock analysts at Craig Hallum from $20.00 to $30.00 in a report released on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Craig Hallum’s price target suggests a potential upside of 17.65% from the stock’s previous close.

A number of other analysts have also issued reports on AEYE. Roth Capital raised AudioEye to a “strong-buy” rating in a research report on Friday, June 21st. Roth Mkm began coverage on AudioEye in a research report on Friday, June 21st. They issued a “buy” rating and a $25.00 target price on the stock. HC Wainwright reissued a “buy” rating and issued a $23.00 target price on shares of AudioEye in a research report on Friday. Finally, B. Riley boosted their target price on AudioEye from $14.00 to $18.50 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $24.13.

AudioEye Trading Up 29.8 %

Shares of AEYE stock traded up $5.86 during trading on Friday, hitting $25.50. 707,692 shares of the stock traded hands, compared to its average volume of 181,430. The firm has a market capitalization of $296.82 million, a P/E ratio of -63.90 and a beta of 1.07. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.13 and a quick ratio of 1.13. The firm’s fifty day moving average price is $20.91 and its 200-day moving average price is $13.54. AudioEye has a 52-week low of $3.75 and a 52-week high of $26.25.

AudioEye (NASDAQ:AEYE) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.03. The firm had revenue of $8.08 million for the quarter, compared to analyst estimates of $8.04 million. AudioEye had a negative net margin of 14.83% and a negative return on equity of 13.59%. As a group, research analysts forecast that AudioEye will post 0.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AudioEye

Several institutional investors have recently modified their holdings of AEYE. Acadian Asset Management LLC acquired a new position in shares of AudioEye during the first quarter worth $116,000. B. Riley Wealth Advisors Inc. grew its stake in shares of AudioEye by 4.0% during the first quarter. B. Riley Wealth Advisors Inc. now owns 12,975 shares of the company’s stock worth $130,000 after purchasing an additional 500 shares in the last quarter. Hillsdale Investment Management Inc. acquired a new position in shares of AudioEye during the first quarter worth $137,000. Bank of New York Mellon Corp acquired a new position in shares of AudioEye during the second quarter worth $348,000. Finally, Vanguard Group Inc. grew its stake in shares of AudioEye by 2.3% during the first quarter. Vanguard Group Inc. now owns 309,190 shares of the company’s stock worth $3,095,000 after purchasing an additional 6,929 shares in the last quarter. Institutional investors and hedge funds 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.