Audioeye (NASDAQ:AEYE) Trading Up 0.5% - Time to Buy?

Key Points

• Audioeye, Inc. (NASDAQ:AEYE) experienced a slight increase of 0.5% in stock price, closing at $13.77 after trading as high as $13.93, amidst a notable decline in share volume.
• Wall Street analysts have mixed opinions on Audioeye, with four analysts rating it as a "Buy" and one as a "Sell." The average target price for the stock is $25.25.
• Recent insider activity includes significant stock purchases by directors, with a total of 33,000 shares bought over the last 90 days, indicating confidence in the company's future.

Audioeye, Inc. (NASDAQ:AEYE - Get Free Report) was up 0.5% during trading on Tuesday . The stock traded as high as $13.93 and last traded at $13.77. Approximately 53,519 shares traded hands during trading, a decline of 43% from the average daily volume of 93,880 shares. The stock had previously closed at $13.70.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Weiss Ratings reiterated a "sell (e+)" rating on shares of Audioeye in a research report on Wednesday, October 8th. Wall Street Zen upgraded Audioeye from a "hold" rating to a "buy" rating in a research report on Friday, September 5th. 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 report on Friday, August 8th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $25.25.

Audioeye Stock Performance

The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.74. The company's 50-day moving average is $13.15 and its two-hundred day moving average is $12.39. The company has a market capitalization of $170.89 million, a P/E ratio of -40.50 and a beta of 0.58.

Insider Activity at Audioeye

In other Audioeye news, Director James B. Hawkins purchased 8,000 shares of Audioeye stock in a transaction on Monday, August 18th. The shares were acquired at an average cost of $10.95 per share, for a total transaction of $87,600.00. Following the completion of the transaction, the director directly owned 146,183 shares of the company's stock, valued at approximately $1,600,703.85. The trade was a 5.79% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jamil A. Tahir purchased 12,641 shares of Audioeye stock in a transaction on Thursday, September 4th. The shares were acquired at an average price of $12.59 per share, for a total transaction of $159,150.19. Following the completion of the transaction, the director directly owned 207,641 shares of the company's stock, valued at approximately $2,614,200.19. The trade was a 6.48% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 33,000 shares of company stock worth $403,833. 40.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Farther Finance Advisors LLC bought a new position in Audioeye during the third quarter valued at approximately $26,000. US Bancorp DE boosted its stake in shares of Audioeye by 3,634.2% during the first quarter. US Bancorp DE now owns 2,950 shares of the company's stock valued at $33,000 after purchasing an additional 2,871 shares during the period. CWM LLC boosted its stake in shares of Audioeye by 74.0% during the first quarter. CWM LLC now owns 4,870 shares of the company's stock valued at $54,000 after purchasing an additional 2,071 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Audioeye by 19.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,904 shares of the company's stock valued at $54,000 after purchasing an additional 806 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of Audioeye by 44,300.0% during the first quarter. GAMMA Investing LLC now owns 7,992 shares of the company's stock valued at $89,000 after purchasing an additional 7,974 shares during the period. 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.

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