Brokerages Set AudioEye, Inc. (NASDAQ:AEYE) Price Target at $26.10

AudioEye, Inc. (NASDAQ:AEYE) has received a consensus rating of “Buy” from the six analysts that are covering the firm, 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 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $26.10.

AEYE has been the subject of a number of recent research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $25.00 target price on shares of AudioEye in a report on Thursday, March 13th. HC Wainwright lowered their price objective on AudioEye from $37.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, March 13th.

Insider Activity

In related news, Director James B. Hawkins acquired 13,300 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The shares were bought at an average cost of $15.39 per share, with a total value of $204,687.00. Following the completion of the purchase, the director now directly owns 114,382 shares in the company, valued at $1,760,338.98. The trade was a 13.16 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Insiders own 40.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of AEYE. R Squared Ltd bought a new position in AudioEye during the fourth quarter worth $36,000. Quarry LP acquired a new stake in AudioEye during the 4th quarter worth about $47,000. MetLife Investment Management LLC bought a new position in shares of AudioEye in the 3rd quarter worth about $54,000. Wells Fargo & Company MN raised its position in shares of AudioEye by 30.0% in the 4th quarter. Wells Fargo & Company MN now owns 4,485 shares of the company’s stock worth $68,000 after acquiring an additional 1,035 shares in the last quarter. Finally, Ieq Capital LLC acquired a new position in shares of AudioEye in the 4th quarter valued at about $153,000. Institutional investors and hedge funds own 51.11% of the company’s stock.

AudioEye Stock Down 3.5 %

Shares of NASDAQ:AEYE opened at $11.75 on Friday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.84 and a current ratio of 0.84. AudioEye has a 52-week low of $8.44 and a 52-week high of $34.85. The company has a market capitalization of $145.85 million, a PE ratio of -43.52, a price-to-earnings-growth ratio of 2.03 and a beta of 1.11. The company has a fifty day moving average of $15.47 and a 200-day moving average of $19.64.

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.