HC Wainwright Forecasts Strong Price Appreciation for AudioEye (NASDAQ:AEYE) Stock

AudioEye (NASDAQ:AEYE) had its price target hoisted by HC Wainwright from $28.00 to $37.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price target points to a potential upside of 29.24% from the company’s previous close.

Other analysts also recently issued reports about the company. Roth Mkm reissued a “buy” rating and issued a $35.00 target price (up from $25.00) on shares of AudioEye in a report on Friday, November 8th. Craig Hallum raised their price target on AudioEye from $20.00 to $30.00 and gave the company a “buy” rating in a report on Friday, July 26th. 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 presently has a consensus rating of “Buy” and a consensus target price of $30.13.

AudioEye Stock Down 14.9 %

Shares of NASDAQ AEYE opened at $28.63 on Monday. AudioEye has a 1 year low of $3.97 and a 1 year high of $34.85. The company has a market capitalization of $340.12 million, a price-to-earnings ratio of -106.04, a price-to-earnings-growth ratio of 8.46 and a beta of 1.03. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.16 and a quick ratio of 1.16. The business has a 50-day moving average of $23.38 and a two-hundred day moving average of $21.94.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of AEYE. Renaissance Technologies LLC raised its stake in AudioEye by 202.5% during the second quarter. Renaissance Technologies LLC now owns 60,500 shares of the company’s stock worth $1,065,000 after purchasing an additional 40,500 shares during the period. ClariVest Asset Management LLC purchased a new position in shares of AudioEye in the 2nd quarter worth $664,000. Bank of New York Mellon Corp acquired a new position in AudioEye in the second quarter valued at $348,000. GSA Capital Partners LLP purchased a new stake in AudioEye during the third quarter valued at about $416,000. Finally, Acadian Asset Management LLC increased its stake in AudioEye by 130.6% during the second quarter. Acadian Asset Management LLC now owns 26,939 shares of the company’s stock worth $473,000 after acquiring an additional 15,256 shares during 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.