Insider Buying: Audioeye (NASDAQ:AEYE) Director Acquires 8,000 Shares of Stock

Key Points

• Director James Hawkins of Audioeye, Inc. purchased 8,000 shares at an average price of $10.95 per share, totaling $87,600 and increasing his holdings to approximately $1.6 million.
• The company's stock has seen recent analyst interest with ratings ranging from "buy" to "hold," and an average price target set at $25.25.
• Audioeye's market capitalization is currently $140.23 million, with stock trading at $11.30 and a 52-week price range between $8.91 and $34.85.

Audioeye, Inc. (NASDAQ:AEYE - Get Free Report) Director James B. Hawkins acquired 8,000 shares of the stock in a transaction on Monday, August 18th. The stock was bought at an average price of $10.95 per share, for a total transaction of $87,600.00. Following the transaction, the director owned 146,183 shares in the company, valued at approximately $1,600,703.85. This represents a 5.79% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink.

Audioeye Stock Performance

Audioeye stock traded up $0.78 during mid-day trading on Friday, hitting $12.60. The company had a trading volume of 130,384 shares, compared to its average volume of 144,457. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.74. The company has a market capitalization of $156.37 million, a price-to-earnings ratio of -37.06, a P/E/G ratio of 1.77 and a beta of 0.78. The company's fifty day moving average is $11.92 and its 200-day moving average is $12.38. Audioeye, Inc. has a 12-month low of $8.91 and a 12-month high of $34.85.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AEYE. US Bancorp DE raised its stake in Audioeye by 3,634.2% in the 1st quarter. US Bancorp DE now owns 2,950 shares of the company's stock valued at $33,000 after purchasing an additional 2,871 shares during the last quarter. Quarry LP acquired a new position in Audioeye in the 4th quarter valued at $47,000. CWM LLC raised its stake in Audioeye by 74.0% in the 1st quarter. CWM LLC now owns 4,870 shares of the company's stock valued at $54,000 after purchasing an additional 2,071 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Audioeye by 19.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,904 shares of the company's stock valued at $54,000 after purchasing an additional 806 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in Audioeye by 30.0% in the 4th quarter. Wells Fargo & Company MN now owns 4,485 shares of the company's stock valued at $68,000 after purchasing an additional 1,035 shares during the last quarter. 51.11% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AEYE has been the subject of several research analyst reports. Wall Street Zen downgraded Audioeye from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. HC Wainwright reaffirmed a "buy" rating and set a $22.00 target price on shares of Audioeye in a research note on Wednesday, April 30th. B. Riley reduced their target price on Audioeye from $20.00 to $19.00 and set a "buy" rating for the company in a research note on Friday, August 8th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $25.00 target price on shares of Audioeye in a research note on Wednesday, April 30th. Four analysts have rated the stock with a Buy rating, According to MarketBeat, Audioeye currently has an average rating of "Buy" and an average price target of $25.25.

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.