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

AudioEye, Inc. (NASDAQ:AEYE) has been given a consensus rating of “Buy” by the six ratings firms that are presently covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $29.10.

Several analysts have commented on the stock. Roth Mkm reissued a “buy” rating and set a $35.00 price target (up from $25.00) on shares of AudioEye in a research report on Friday, November 8th. Needham & Company LLC assumed coverage on shares of AudioEye in a research report on Tuesday. They set a “buy” rating and a $25.00 target price for the company. Finally, HC Wainwright raised their target price on shares of AudioEye from $28.00 to $37.00 and gave the company a “buy” rating in a research note on Monday, November 11th.

Insider Buying and Selling

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

Institutional Investors Weigh In On AudioEye

Hedge funds have recently modified their holdings of the company. Franklin Resources Inc. purchased a new position in shares of AudioEye during the third quarter worth $363,000. Barclays PLC grew its stake in AudioEye by 37.7% during 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. Kovitz Investment Group Partners LLC acquired a new position in shares of AudioEye during the third quarter worth $263,000. Centiva Capital LP acquired a new position in AudioEye in the third quarter valued at approximately $286,000. Finally, Summit Partners Public Asset Management LLC lifted its position in AudioEye by 24.5% in the third quarter. Summit Partners Public Asset Management LLC now owns 515,279 shares of the company’s stock valued at $11,774,000 after acquiring an additional 101,302 shares during the last quarter. Hedge funds and other institutional investors own 51.11% of the company’s stock.

AudioEye Trading Down 1.3 %

AEYE opened at $15.39 on Tuesday. AudioEye has a 12 month low of $4.52 and a 12 month high of $34.85. The stock has a fifty day moving average price of $21.96 and a 200-day moving average price of $22.03. The firm has a market cap of $187.42 million, a price-to-earnings ratio of -57.00, a PEG ratio of 4.29 and a beta of 1.12. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.92.

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 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.