AudioEye, Inc. (NASDAQ:AEYE) Receives $29.10 Average PT from Brokerages

Shares of AudioEye, Inc. (NASDAQ:AEYE) have been given an average recommendation of “Buy” by the six research firms that are currently covering the company, MarketBeat.com reports. Five investment 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 brokers that have issued ratings on the stock in the last year is $29.10.

Several brokerages recently issued reports on AEYE. Needham & Company LLC initiated coverage on AudioEye in a research report on Tuesday. They set a “buy” rating and a $25.00 target price on the stock. Roth Mkm restated a “buy” rating and set a $35.00 price objective (up from $25.00) on shares of AudioEye in a research note on Friday, November 8th. Finally, HC Wainwright increased their price objective on shares of AudioEye from $28.00 to $37.00 and gave the stock a “buy” rating in a research note on Monday, November 11th.

Insiders Place Their Bets

In other news, Director Jamil A. Tahir sold 125,000 shares of the stock in a transaction dated Wednesday, December 4th. The shares were 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 directly owns 195,000 shares in the company, valued at $4,680,000. This represents a 39.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Carr Bettis sold 225,000 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 $5,400,000.00. Following the transaction, the insider now owns 200,045 shares in the company, valued at approximately $4,801,080. This represents a 52.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,342,859 shares of company stock worth $32,684,480. Company insiders own 40.70% of the company’s stock.

Hedge Funds Weigh In On AudioEye

A number of institutional investors have recently added to or reduced their stakes in the stock. MetLife Investment Management LLC purchased a new position in shares of AudioEye during the 3rd quarter worth $54,000. CWM LLC acquired a new stake in AudioEye during the third quarter worth about $93,000. Rhumbline Advisers purchased a new position in AudioEye during the second quarter worth about $147,000. Total Clarity Wealth Management Inc. purchased a new position in AudioEye during the second quarter worth about $221,000. Finally, Barclays PLC boosted its holdings in AudioEye by 37.7% in the 3rd quarter. Barclays PLC now owns 10,181 shares of the company’s stock valued at $233,000 after purchasing an additional 2,788 shares during the last quarter. Hedge funds and other institutional investors own 51.11% of the company’s stock.

AudioEye Price Performance

NASDAQ AEYE opened at $14.11 on Tuesday. The firm’s fifty day simple moving average is $21.51 and its two-hundred day simple moving average is $21.90. The firm has a market capitalization of $171.83 million, a P/E ratio of -52.26, a P/E/G 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 has a 12-month low of $4.52 and a 12-month high of $34.85.

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.