AudioEye (NASDAQ:AEYE) Now Covered by Analysts at Needham & Company LLC

Stock analysts at Needham & Company LLC started coverage on shares of AudioEye (NASDAQ:AEYE) in a note issued to investors on Tuesday, Marketbeat.com reports. The firm set a “buy” rating and a $25.00 price target on the stock. Needham & Company LLC’s target price suggests a potential upside of 77.18% from the company’s current price.

Other research analysts have also issued research reports about the company. Roth Mkm reaffirmed a “buy” rating and set a $35.00 target price (up previously from $25.00) on shares of AudioEye in a report on Friday, November 8th. HC Wainwright lifted their price target on AudioEye from $28.00 to $37.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $29.10.

AudioEye Trading Down 9.1 %

Shares of AEYE opened at $14.11 on Tuesday. The business has a 50-day moving average of $21.65 and a 200 day moving average of $21.96. AudioEye has a fifty-two week low of $4.52 and a fifty-two week high of $34.85. The firm has a market cap of $171.83 million, a P/E ratio of -52.26, a price-to-earnings-growth ratio of 4.29 and a beta of 1.12. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.84 and a current ratio of 0.84.

Insider Buying and Selling

In other AudioEye news, Director Jamil A. Tahir sold 125,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $24.00, for a total value of $3,000,000.00. Following the completion of the sale, the director now owns 195,000 shares in the company, valued at approximately $4,680,000. The trade was a 39.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Carr Bettis sold 225,000 shares of the business’s 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 completion of the sale, the insider now owns 200,045 shares of the company’s stock, valued at $4,801,080. The trade was a 52.94 % 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 quarter. 40.70% of the stock is owned by insiders.

Institutional Trading of AudioEye

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. lifted its position in AudioEye by 7.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 22,361 shares of the company’s stock valued at $511,000 after purchasing an additional 1,477 shares during the last quarter. MetLife Investment Management LLC purchased a new position in shares of AudioEye during the third quarter valued at approximately $54,000. Barclays PLC increased its stake in shares of AudioEye by 37.7% during the third quarter. Barclays PLC now owns 10,181 shares of the company’s stock valued at $233,000 after buying an additional 2,788 shares during the period. CWM LLC purchased a new position in shares of AudioEye during the third quarter valued at approximately $93,000. Finally, Rhumbline Advisers purchased a new position in shares of AudioEye during the second quarter valued at approximately $147,000. Institutional investors own 51.11% of the company’s stock.

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.