Audioeye (NASDAQ:AEYE) Cut to Hold at Wall Street Zen

Key Points

• Audioeye has been downgraded from a "buy" rating to a "hold" rating by Wall Street Zen, while four other analysts still maintain a "buy" rating.
• The stock has experienced a decline of 13.4%, currently trading at around $10.10, compared to a 52-week low of $8.91 and high of $34.85.
• Institutional investors hold 51.11% of Audioeye's stock, with significant recent increases in stakes from several large investors including US Bancorp and CWM LLC.

Audioeye (NASDAQ:AEYE - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Saturday.

AEYE has been the topic of a number of other reports. Needham & Company LLC restated a "buy" rating and set a $25.00 price target on shares of Audioeye in a research note on Wednesday, April 30th. HC Wainwright restated a "buy" rating and set a $22.00 price target on shares of Audioeye in a research note on Wednesday, April 30th. Finally, B. Riley decreased their price target on Audioeye from $20.00 to $19.00 and set a "buy" rating on the stock in a research note on Friday. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $25.25.

Audioeye Trading Down 13.4%

Audioeye stock traded down $1.56 during mid-day trading on Friday, hitting $10.10. The company's stock had a trading volume of 500,396 shares, compared to its average volume of 137,464. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.45. The stock's fifty day moving average is $12.12 and its two-hundred day moving average is $12.93. Audioeye has a 1 year low of $8.91 and a 1 year high of $34.85. The firm has a market capitalization of $125.85 million, a PE ratio of -29.71, a price-to-earnings-growth ratio of 1.26 and a beta of 0.78.

Institutional Trading of Audioeye

Several hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Audioeye by 19.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,904 shares of the company's stock valued at $54,000 after acquiring an additional 806 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Audioeye by 30.0% in the fourth quarter. Wells Fargo & Company MN now owns 4,485 shares of the company's stock valued at $68,000 after buying an additional 1,035 shares during the last quarter. Barclays PLC increased its holdings in Audioeye by 10.9% in 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 last quarter. Rhumbline Advisers increased its holdings in Audioeye by 14.5% in 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 last quarter. Finally, CWM LLC increased its holdings in Audioeye by 74.0% in the first quarter. CWM LLC now owns 4,870 shares of the company's stock valued at $54,000 after buying an additional 2,071 shares during the last quarter. 51.11% of the stock is currently owned by institutional investors and hedge funds.

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.