HC Wainwright Reaffirms "Buy" Rating for AudioEye (NASDAQ:AEYE)

HC Wainwright reaffirmed their buy rating on shares of AudioEye (NASDAQ:AEYE - Free Report) in a research note published on Wednesday morning,Benzinga reports. HC Wainwright currently has a $22.00 price objective on the stock.

Other equities analysts also recently issued research reports about the stock. Needham & Company LLC reissued a "buy" rating and set a $25.00 price objective on shares of AudioEye in a research note on Wednesday, April 30th. B. Riley reduced their price target on AudioEye from $26.00 to $20.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. 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, AudioEye presently has an average rating of "Buy" and an average price target of $26.40.

AudioEye Price Performance

Shares of AEYE traded up $0.36 during trading hours on Wednesday, reaching $12.26. 67,062 shares of the company traded hands, compared to its average volume of 214,139. The stock has a fifty day simple moving average of $11.63 and a 200 day simple moving average of $17.26. AudioEye has a fifty-two week low of $8.91 and a fifty-two week high of $34.85. The stock has a market capitalization of $152.29 million, a PE ratio of -45.39, a price-to-earnings-growth 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.

Insider Buying and Selling

In other AudioEye news, Director James B. Hawkins bought 13,300 shares of AudioEye stock in a transaction that occurred on Wednesday, March 19th. The shares were acquired at an average price of $15.39 per share, for a total transaction of $204,687.00. Following the acquisition, the director now owns 114,382 shares of the company's stock, valued at $1,760,338.98. The trade was a 13.16 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 28.80% of the company's stock.

Institutional Investors Weigh In On AudioEye

Several institutional investors and hedge funds have recently modified their holdings of AEYE. Alyeska Investment Group L.P. acquired a new position in AudioEye during the 4th quarter worth approximately $3,802,000. Hood River Capital Management LLC acquired a new position in AudioEye in the 4th quarter worth $3,739,000. Formula Growth Ltd. purchased a new position in AudioEye in the 4th quarter valued at about $1,977,000. Northern Trust Corp grew its stake in AudioEye by 23.3% during the 4th quarter. Northern Trust Corp now owns 82,837 shares of the company's stock valued at $1,260,000 after purchasing an additional 15,648 shares in the last quarter. Finally, Skylands Capital LLC increased its holdings in AudioEye by 494.5% during the 1st 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. 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.