B. Riley Cuts AudioEye (NASDAQ:AEYE) Price Target to $20.00

AudioEye (NASDAQ:AEYE - Free Report) had its price target reduced by B. Riley from $26.00 to $20.00 in a research note released on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts have also recently commented on AEYE. Needham & Company LLC reaffirmed a "buy" rating and set a $25.00 price objective on shares of AudioEye in a research note on Wednesday, April 2nd. HC Wainwright reduced their price target on shares of AudioEye from $37.00 to $22.00 and set a "buy" rating for the company in a research report on Thursday, March 13th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $26.40.

AudioEye Price Performance

NASDAQ AEYE traded up $0.29 during trading hours on Tuesday, hitting $12.22. The company had a trading volume of 69,306 shares, compared to its average volume of 217,503. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a market capitalization of $151.86 million, a price-to-earnings ratio of -45.26, a PEG ratio of 2.03 and a beta of 1.39. 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 $11.98 and a 200 day simple moving average of $17.74.

Insider Activity

In other news, Director James B. Hawkins acquired 13,300 shares of the firm's stock in a transaction that occurred on Wednesday, March 19th. The shares were bought at an average cost of $15.39 per share, with a total value of $204,687.00. Following the acquisition, the director now owns 114,382 shares in the company, valued at approximately $1,760,338.98. This represents a 13.16 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 40.70% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. R Squared Ltd bought a new stake in AudioEye in the fourth quarter worth $36,000. Quarry LP purchased a new position in shares of AudioEye in the fourth quarter worth about $47,000. Wells Fargo & Company MN lifted its stake in shares of 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 acquiring an additional 1,035 shares during the last quarter. GAMMA Investing LLC boosted its holdings in AudioEye by 44,300.0% during the 1st quarter. GAMMA Investing LLC now owns 7,992 shares of the company's stock valued at $89,000 after acquiring an additional 7,974 shares during the period. Finally, Rhumbline Advisers grew its position in AudioEye by 14.5% during the 1st quarter. Rhumbline Advisers now owns 10,360 shares of the company's stock worth $115,000 after acquiring an additional 1,313 shares during the last quarter. 51.11% of the stock is currently owned by 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.