Wall Street Zen Upgrades AudioEye (NASDAQ:AEYE) to "Buy"

AudioEye (NASDAQ:AEYE - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Saturday.

A number of other research firms have also weighed in on AEYE. B. Riley decreased their price target on AudioEye from $26.00 to $20.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Needham & Company LLC restated a "buy" rating and issued a $25.00 target price on shares of AudioEye in a research note on Wednesday, April 30th. Finally, HC Wainwright reissued a "buy" rating and set a $22.00 price objective on shares of AudioEye in a report on Wednesday, April 30th. Six investment 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 a consensus target price of $26.40.

AudioEye Stock Up 4.9%

NASDAQ AEYE traded up $0.59 on Friday, reaching $12.74. The company had a trading volume of 79,647 shares, compared to its average volume of 205,614. The firm has a market capitalization of $158.71 million, a PE ratio of -47.19, a P/E/G ratio of 2.03 and a beta of 0.94. AudioEye has a 1 year low of $8.91 and a 1 year high of $34.85. The firm has a 50-day moving average of $11.73 and a 200-day moving average of $15.97. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.84 and a quick ratio of 0.84.

Insider Activity

In other news, Director James B. Hawkins bought 13,300 shares of the stock in a transaction on Wednesday, March 19th. The shares were bought at an average price of $15.39 per share, with a total value of $204,687.00. Following the completion of the acquisition, the director now owns 114,382 shares in the company, valued at $1,760,338.98. The trade was a 13.16% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 28.80% of the company's stock.

Hedge Funds Weigh In On AudioEye

Institutional investors and hedge funds have recently modified their holdings of the stock. Alyeska Investment Group L.P. purchased a new stake in shares of AudioEye during the 4th quarter worth $3,802,000. Hood River Capital Management LLC purchased a new position in AudioEye during the fourth quarter worth approximately $3,739,000. Jacobs Levy Equity Management Inc. acquired a new stake in AudioEye during the first quarter worth $1,664,000. Formula Growth Ltd. acquired a new stake in shares of AudioEye in the fourth quarter valued at $1,977,000. Finally, Goldman Sachs Group Inc. grew its stake in AudioEye by 20.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 108,392 shares of the company's stock worth $1,203,000 after purchasing an additional 18,513 shares in the last quarter. Hedge funds and other institutional investors own 51.11% of the company's stock.

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.