AudioEye's (AEYE) "Buy" Rating Reiterated at Needham & Company LLC

AudioEye (NASDAQ:AEYE - Get Free Report)'s stock had its "buy" rating reiterated by investment analysts at Needham & Company LLC in a report issued on Wednesday,Benzinga reports. They presently have a $25.00 price target on the stock. Needham & Company LLC's price objective indicates a potential upside of 110.08% from the stock's current price.

Other equities analysts have also recently issued reports about the company. B. Riley cut their price objective on AudioEye from $26.00 to $20.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. HC Wainwright cut their target price on AudioEye from $37.00 to $22.00 and set a "buy" rating for the company in a research note on Thursday, March 13th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $26.40.

AudioEye Price Performance

Shares of NASDAQ AEYE traded up $0.82 during mid-day trading on Wednesday, reaching $11.90. 148,062 shares of the company were exchanged, compared to its average volume of 215,389. AudioEye has a 52 week low of $8.91 and a 52 week high of $34.85. The company's 50 day moving average price is $11.63 and its 200 day moving average price is $17.37. The stock has a market capitalization of $147.88 million, a PE ratio of -44.07, a PEG ratio of 2.03 and a beta of 1.39. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.92.

Insider Activity at AudioEye

In related news, Director James B. Hawkins acquired 13,300 shares of the stock in a transaction on Wednesday, March 19th. The stock was purchased at an average price of $15.39 per share, for a total transaction of $204,687.00. Following the completion of the transaction, the director now owns 114,382 shares of the company's stock, valued at $1,760,338.98. This trade represents a 13.16 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 40.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Alyeska Investment Group L.P. purchased a new stake in AudioEye during the 4th quarter valued at $3,802,000. Hood River Capital Management LLC bought a new position in shares of AudioEye during the fourth quarter valued at about $3,739,000. Formula Growth Ltd. purchased a new stake in shares of AudioEye during the fourth quarter worth about $1,977,000. Northern Trust Corp grew its stake in shares of AudioEye by 23.3% in the fourth quarter. Northern Trust Corp now owns 82,837 shares of the company's stock worth $1,260,000 after purchasing an additional 15,648 shares during the last quarter. Finally, Skylands Capital LLC grew its stake in shares of AudioEye by 494.5% in the first quarter. Skylands Capital LLC now owns 80,550 shares of the company's stock worth $894,000 after purchasing an additional 67,000 shares during the last quarter. Institutional investors own 51.11% of the company's stock.

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.