HC Wainwright Reaffirms “Buy” Rating for AudioEye (NASDAQ:AEYE)

AudioEye (NASDAQ:AEYE)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $23.00 price target on the stock. HC Wainwright’s price objective suggests a potential upside of 17.11% from the company’s previous close.

A number of other analysts have also recently commented on the stock. B. Riley upped their price target on shares of AudioEye from $14.00 to $18.50 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Craig Hallum increased their price objective on shares of AudioEye from $10.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Roth Mkm began coverage on shares of AudioEye in a research report on Friday, June 21st. They set a “buy” rating and a $25.00 price objective on the stock. Finally, Roth Capital raised shares of AudioEye to a “strong-buy” rating in a research report on Friday, June 21st. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $21.63.

AudioEye Stock Performance

Shares of AEYE opened at $19.64 on Friday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.37. The stock has a market capitalization of $228.61 million, a P/E ratio of -50.36 and a beta of 1.07. The firm’s fifty day simple moving average is $20.91 and its two-hundred day simple moving average is $13.54. AudioEye has a 12 month low of $3.75 and a 12 month high of $26.16.

AudioEye (NASDAQ:AEYE) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.03. The business had revenue of $8.08 million for the quarter, compared to analysts’ expectations of $8.04 million. AudioEye had a negative net margin of 14.83% and a negative return on equity of 13.59%. As a group, analysts predict that AudioEye will post 0.05 EPS for the current year.

Institutional Investors Weigh In On AudioEye

Institutional investors and hedge funds have recently made changes to their positions in the business. Hillsdale Investment Management Inc. acquired a new stake in shares of AudioEye in the 1st quarter worth about $137,000. Bank of New York Mellon Corp purchased a new stake in AudioEye in the 2nd quarter valued at about $348,000. Vanguard Group Inc. increased its stake in AudioEye by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 309,190 shares of the company’s stock valued at $3,095,000 after buying an additional 6,929 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its stake in AudioEye by 4.0% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 12,975 shares of the company’s stock valued at $130,000 after buying an additional 500 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in AudioEye in the 1st quarter valued at about $116,000. Institutional investors and hedge funds 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.