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

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

Other research analysts have also issued research reports about the stock. B. Riley dropped their price target on shares of 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 reissued a "buy" rating and issued a $25.00 target price on shares of AudioEye in a report on Wednesday, April 30th. Finally, HC Wainwright restated a "buy" rating and set a $22.00 target price on shares of AudioEye in a research report on Wednesday, April 30th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $26.40.

AudioEye Stock Performance

AEYE traded up $0.24 during trading on Friday, reaching $12.98. 40,120 shares of the company's stock were exchanged, compared to its average volume of 204,959. AudioEye has a fifty-two week low of $8.91 and a fifty-two week high of $34.85. The company has a market capitalization of $161.64 million, a P/E ratio of -48.06, a PEG ratio of 2.03 and a beta of 0.94. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.92. The business has a 50 day moving average price of $11.76 and a 200 day moving average price of $15.94.

Insiders Place Their Bets

In other AudioEye news, Director James B. Hawkins acquired 13,300 shares of the business's 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 transaction, the director now owns 114,382 shares in the company, valued at $1,760,338.98. This trade represents a 13.16% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 28.80% of the company's stock.

Institutional Trading of AudioEye

A number of hedge funds and other institutional investors have recently made changes to their positions in AEYE. Raymond James Financial Inc. bought a new stake in AudioEye during the 4th quarter worth about $606,000. Bank of New York Mellon Corp lifted its position in shares of AudioEye by 187.4% during the fourth quarter. Bank of New York Mellon Corp now owns 46,860 shares of the company's stock worth $713,000 after purchasing an additional 30,556 shares in the last quarter. Hood River Capital Management LLC bought a new stake in shares of AudioEye during the fourth quarter valued at approximately $3,739,000. Renaissance Technologies LLC increased its holdings in shares of AudioEye by 32.2% in the fourth quarter. Renaissance Technologies LLC now owns 52,100 shares of the company's stock valued at $792,000 after purchasing an additional 12,700 shares in the last quarter. Finally, Sei Investments Co. bought a new position in AudioEye in the 4th quarter worth approximately $890,000. 51.11% of the stock is currently owned by institutional investors and hedge funds.

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.