Audioeye (NASDAQ:AEYE) Stock Rating Lowered by 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 analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Saturday.

Other equities analysts also recently issued reports about the company. HC Wainwright restated a "buy" rating and issued a $22.00 price objective on shares of Audioeye in a research report on Wednesday, April 30th. Needham & Company LLC reaffirmed a "buy" rating and set a $25.00 price objective on shares of Audioeye in a report on Wednesday, April 30th. Finally, B. Riley lowered their target price on shares of Audioeye from $20.00 to $19.00 and set a "buy" rating on the stock in a report on Friday, August 8th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $25.25.

Audioeye Price Performance

Shares of AEYE stock traded up $0.41 on Friday, hitting $10.98. 24,046 shares of the stock traded hands, compared to its average volume of 138,021. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.10 and a quick ratio of 1.30. Audioeye has a 52 week low of $8.91 and a 52 week high of $34.85. The firm has a 50 day simple moving average of $12.05 and a two-hundred day simple moving average of $12.85. The firm has a market cap of $136.26 million, a price-to-earnings ratio of -32.29, a PEG ratio of 1.28 and a beta of 0.78.

Hedge Funds Weigh In On Audioeye

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN increased 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 worth $68,000 after acquiring an additional 1,035 shares during the last quarter. Russell Investments Group Ltd. increased its position in Audioeye by 114,452.7% in the fourth quarter. Russell Investments Group Ltd. now owns 63,004 shares of the company's stock worth $958,000 after purchasing an additional 62,949 shares during the last quarter. Renaissance Technologies LLC increased its position in Audioeye by 32.2% in the fourth quarter. Renaissance Technologies LLC now owns 52,100 shares of the company's stock worth $792,000 after purchasing an additional 12,700 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Audioeye during the fourth quarter valued at $606,000. Finally, Barclays PLC lifted its position in 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 purchasing an additional 1,111 shares during the last quarter. 51.11% of the stock is owned by institutional investors.

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.