AudioEye (NASDAQ:AEYE) Stock Rating Upgraded by Zacks Investment Research

AudioEye (NASDAQ:AEYE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports.

According to Zacks, “AudioEye Inc. engages in creating cloud-based cross-platform/cross-browser screen reader solution for web browsing. It focuses on creating voice driven technologies to enhance the mobility, usability, and accessibility of the Internet based content in the United States. The company develops patented, Internet content publication, and distribution software that enables conversion of any media into accessible formats, as well as allows for real time distribution on any Internet connected device. It offers Audio Internet (R), a software as a service technology platform to Internet and mobile publishers, developers, owners, and operators. AudioEye Inc. is based in Tucson, Arizona. “

Other equities research analysts have also issued reports about the stock. HC Wainwright reduced their target price on shares of AudioEye from $28.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, August 12th. Maxim Group lowered shares of AudioEye from a “buy” rating to a “hold” rating in a report on Thursday, August 12th. Finally, B. Riley reduced their target price on shares of AudioEye from $32.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, August 12th.

Shares of NASDAQ:AEYE opened at $10.31 on Tuesday. The firm’s 50 day moving average price is $11.61 and its 200-day moving average price is $16.79. AudioEye has a twelve month low of $9.01 and a twelve month high of $44.37. The stock has a market capitalization of $116.88 million, a PE ratio of -11.99 and a beta of 2.14.

AudioEye (NASDAQ:AEYE) last issued its quarterly earnings data on Tuesday, August 10th. The company reported ($0.17) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.26) by $0.09. AudioEye had a negative net margin of 37.98% and a negative return on equity of 55.65%. The firm had revenue of $6.02 million for the quarter, compared to analysts’ expectations of $6.30 million. Equities analysts forecast that AudioEye will post -1.23 earnings per share for the current year.

In other news, insider Carr Bettis sold 5,844 shares of the business’s stock in a transaction dated Thursday, August 5th. The stock was sold at an average price of $13.26, for a total transaction of $77,491.44. Following the sale, the insider now owns 410,756 shares in the company, valued at $5,446,624.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David Moradi purchased 10,000 shares of the company’s stock in a transaction dated Thursday, August 19th. The shares were acquired at an average price of $11.60 per share, for a total transaction of $116,000.00. The disclosure for this purchase can be found here. Company insiders own 40.30% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the stock. Morgan Stanley lifted its holdings in shares of AudioEye by 2,094.5% during the second quarter. Morgan Stanley now owns 27,958 shares of the company’s stock worth $469,000 after purchasing an additional 26,684 shares during the period. Anchor Capital Advisors LLC lifted its holdings in shares of AudioEye by 11.1% during the second quarter. Anchor Capital Advisors LLC now owns 57,970 shares of the company’s stock worth $973,000 after purchasing an additional 5,770 shares during the period. State Street Corp acquired a new stake in shares of AudioEye during the second quarter worth about $369,000. Renaissance Technologies LLC acquired a new stake in shares of AudioEye during the second quarter worth about $739,000. Finally, Steward Partners Investment Advisory LLC lifted its holdings in shares of AudioEye by 415.4% during the second quarter. Steward Partners Investment Advisory LLC now owns 6,752 shares of the company’s stock worth $113,000 after purchasing an additional 5,442 shares during the period. 14.60% of the stock is owned by hedge funds and other institutional investors.

About AudioEye

AudioEye, Inc engages in the provision of digital accessibility technology solutions. It offers patented, Internet content publication and distribution software which enables the conversion of any media into an accessible format and allowing real-time distribution to end-users on any Internet connected device.

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