B. Riley Has Lowered Expectations for Audioeye (NASDAQ:AEYE) Stock Price

Key Points

• B. Riley has lowered its price target for Audioeye (NASDAQ:AEYE) from $20.00 to $19.00, indicating a potential upside of 70.86% from its previous closing price.
• Despite the downgrade, five analysts still maintain a "buy" rating for Audioeye, with an average price target of $25.25 among them.
• Institutional investors hold over 51% of Audioeye stock, with notable increases in ownership from firms like US Bancorp DE and CWM LLC in recent quarters.

Audioeye (NASDAQ:AEYE - Free Report) had its target price lowered by B. Riley from $20.00 to $19.00 in a research report report published on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other brokerages also recently weighed in on AEYE. Needham & Company LLC reissued a "buy" rating and issued a $25.00 price target on shares of Audioeye in a report on Wednesday, April 30th. Wall Street Zen raised shares of Audioeye from a "hold" rating to a "buy" rating in a report on Saturday, May 24th. Finally, HC Wainwright reissued a "buy" rating and issued a $22.00 price target on shares of Audioeye in a report on Wednesday, April 30th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, Audioeye has a consensus rating of "Moderate Buy" and a consensus target price of $25.25.

Audioeye Price Performance

AEYE traded up $0.29 on Friday, reaching $10.55. The company had a trading volume of 91,615 shares, compared to its average volume of 138,277. The company has a fifty day moving average of $12.08 and a 200-day moving average of $12.87. The company has a market capitalization of $131.45 million, a P/E ratio of -31.03, a PEG ratio of 1.26 and a beta of 0.78. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.45. Audioeye has a one year low of $8.91 and a one year high of $34.85.

Institutional Trading of Audioeye

Hedge funds have recently bought and sold shares of the company. Two Sigma Investments LP acquired a new position in shares of Audioeye in the 4th quarter valued at about $380,000. Raymond James Financial Inc. acquired a new position in shares of Audioeye in the 4th quarter valued at about $606,000. Millennium Management LLC increased its holdings in Audioeye by 17.4% in the fourth quarter. Millennium Management LLC now owns 42,288 shares of the company's stock worth $643,000 after buying an additional 6,278 shares during the last quarter. Bank of America Corp DE raised its position in Audioeye by 314.5% during the fourth quarter. Bank of America Corp DE now owns 59,206 shares of the company's stock valued at $901,000 after acquiring an additional 44,923 shares in the last quarter. Finally, Hood River Capital Management LLC bought a new position in Audioeye during the fourth quarter valued at approximately $3,739,000. 51.11% of the stock is owned by hedge funds and other institutional investors.

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.