AudioEye’s (AEYE) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of AudioEye (NASDAQ:AEYE) in a research note released on Tuesday, MarketBeat Ratings reports. The brokerage currently has a $25.00 price target on the stock.

Several other research analysts also recently commented on the stock. HC Wainwright lifted their target price on shares of AudioEye from $28.00 to $37.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Roth Mkm restated a “buy” rating and set a $35.00 price target (up from $25.00) on shares of AudioEye in a research report on Friday, November 8th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $29.10.

AudioEye Stock Down 2.1 %

Shares of AudioEye stock opened at $17.75 on Tuesday. The stock has a 50-day moving average price of $19.52 and a 200 day moving average price of $21.76. 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 1 year low of $4.52 and a 1 year high of $34.85. The company has a market cap of $216.20 million, a P/E ratio of -65.74, a P/E/G ratio of 2.42 and a beta of 1.12.

Insider Activity at AudioEye

In other AudioEye news, CFO Kelly Georgevich sold 10,000 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $29.00, for a total transaction of $290,000.00. Following the sale, the chief financial officer now directly owns 88,981 shares in the company, valued at $2,580,449. This represents a 10.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO David Moradi sold 68,298 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $29.48, for a total transaction of $2,013,425.04. Following the completion of the transaction, the chief executive officer now directly owns 2,830,035 shares of the company’s stock, valued at $83,429,431.80. This trade represents a 2.36 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,342,859 shares of company stock valued at $32,684,480. 40.70% of the stock is owned by corporate insiders.

Institutional Trading of AudioEye

Several institutional investors have recently modified their holdings of the business. R Squared Ltd bought a new stake in shares of AudioEye in the 4th quarter valued at $36,000. MetLife Investment Management LLC purchased a new stake in AudioEye in the third quarter worth $54,000. CWM LLC purchased a new stake in shares of AudioEye during the 3rd quarter valued at approximately $93,000. Rhumbline Advisers purchased a new position in AudioEye during the 2nd quarter valued at about $147,000. Finally, Barclays PLC raised its stake in AudioEye by 37.7% in the third quarter. Barclays PLC now owns 10,181 shares of the company’s stock valued at $233,000 after purchasing an additional 2,788 shares in the last quarter. 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.