Analysts Set AudioEye, Inc. (NASDAQ:AEYE) Target Price at $26.40

AudioEye, Inc. (NASDAQ:AEYE - Get Free Report) has been assigned a consensus rating of "Buy" from the six analysts that are covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $26.40.

Several analysts have recently issued reports on the company. HC Wainwright reiterated a "buy" rating and set a $22.00 price target on shares of AudioEye in a research note on Wednesday, April 30th. B. Riley dropped their target price on AudioEye from $26.00 to $20.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Finally, Needham & Company LLC restated a "buy" rating and set a $25.00 price target on shares of AudioEye in a research report on Wednesday, April 30th.

AudioEye Trading Up 8.9%

Shares of AudioEye stock traded up $1.15 on Monday, reaching $14.05. 193,021 shares of the company were exchanged, compared to its average volume of 210,670. The firm has a market capitalization of $175.03 million, a price-to-earnings ratio of -52.04, a price-to-earnings-growth ratio of 2.03 and a beta of 0.94. AudioEye has a fifty-two week low of $8.91 and a fifty-two week high of $34.85. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.92. The stock has a fifty day moving average price of $11.57 and a 200-day moving average price of $16.72.

Insider Activity

In related news, Director James B. Hawkins acquired 13,300 shares of the business's stock in a transaction dated Wednesday, March 19th. The shares were bought at an average price of $15.39 per share, with a total value of $204,687.00. Following the transaction, the director now directly owns 114,382 shares of the company's stock, valued at $1,760,338.98. This trade represents a 13.16% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 28.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Wells Fargo & Company MN lifted its holdings in shares of AudioEye by 30.0% during 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 during the last quarter. Barclays PLC increased its position in shares of AudioEye by 10.9% during the fourth quarter. Barclays PLC now owns 11,292 shares of the company's stock valued at $172,000 after buying an additional 1,111 shares during the period. Rhumbline Advisers increased its position in shares of AudioEye by 14.5% during the first quarter. Rhumbline Advisers now owns 10,360 shares of the company's stock valued at $115,000 after buying an additional 1,313 shares during the period. CWM LLC grew its holdings in AudioEye by 74.0% in the first quarter. CWM LLC now owns 4,870 shares of the company's stock worth $54,000 after purchasing an additional 2,071 shares during the period. Finally, R Squared Ltd purchased a new stake in AudioEye in the fourth quarter worth about $36,000. 51.11% of the stock is currently owned by hedge funds and other institutional investors.

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.