Needham & Company LLC Reaffirms Buy Rating for AudioEye (NASDAQ:AEYE)

AudioEye (NASDAQ:AEYE - Get Free Report)'s stock had its "buy" rating reissued by research analysts at Needham & Company LLC in a note issued to investors on Wednesday,Benzinga reports. They presently have a $25.00 target price on the stock. Needham & Company LLC's target price would indicate a potential upside of 104.00% from the stock's previous close.

Other research analysts have also issued reports about the company. B. Riley lowered their price objective on AudioEye from $26.00 to $20.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. HC Wainwright reduced their price objective on shares of AudioEye from $37.00 to $22.00 and set a "buy" rating on the stock in a 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, AudioEye presently has an average rating of "Buy" and an average price target of $26.40.

AudioEye Price Performance

Shares of AEYE stock traded up $0.36 during trading hours on Wednesday, reaching $12.26. The company had a trading volume of 67,062 shares, compared to its average volume of 214,139. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.84 and a current ratio of 0.84. AudioEye has a 12-month low of $8.91 and a 12-month high of $34.85. The stock has a fifty day moving average of $11.63 and a 200-day moving average of $17.26. The company has a market capitalization of $152.29 million, a price-to-earnings ratio of -45.39, a PEG ratio of 2.03 and a beta of 0.94.

Insider Buying and Selling at AudioEye

In related news, Director James B. Hawkins purchased 13,300 shares of the business's stock in a transaction on Wednesday, March 19th. The shares were bought at an average price of $15.39 per share, for a total transaction of $204,687.00. Following the acquisition, the director now directly owns 114,382 shares in the company, valued at $1,760,338.98. This trade represents a 13.16 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 28.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. R Squared Ltd acquired a new position in AudioEye in the fourth quarter valued at $36,000. Quarry LP purchased a new position in AudioEye during the 4th quarter worth approximately $47,000. Wells Fargo & Company MN increased its position in AudioEye by 30.0% during the fourth quarter. Wells Fargo & Company MN now owns 4,485 shares of the company's stock worth $68,000 after buying an additional 1,035 shares during the period. CWM LLC lifted its stake 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. Finally, GAMMA Investing LLC boosted its holdings in shares of AudioEye by 44,300.0% in the first 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. 51.11% of the stock is 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.