Bank of America Corp DE Has $901,000 Stock Position in AudioEye, Inc. (NASDAQ:AEYE)

Bank of America Corp DE increased its stake in shares of AudioEye, Inc. (NASDAQ:AEYE - Free Report) by 314.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 59,206 shares of the company's stock after purchasing an additional 44,923 shares during the period. Bank of America Corp DE owned approximately 0.49% of AudioEye worth $901,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Quarry LP bought a new position in AudioEye during the fourth quarter worth about $47,000. Wells Fargo & Company MN boosted its stake in AudioEye by 30.0% in the 4th quarter. Wells Fargo & Company MN now owns 4,485 shares of the company's stock worth $68,000 after purchasing an additional 1,035 shares during the period. Ieq Capital LLC bought a new position in AudioEye during the 4th quarter worth about $153,000. Oxford Asset Management LLP bought a new position in AudioEye during the 4th quarter worth about $163,000. Finally, Barclays PLC raised its stake in shares of AudioEye by 10.9% in the 4th quarter. Barclays PLC now owns 11,292 shares of the company's stock valued at $172,000 after purchasing an additional 1,111 shares during the period. 51.11% of the stock is currently owned by institutional investors and hedge funds.

AudioEye Stock Performance

NASDAQ:AEYE opened at $12.67 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.92. The stock has a 50 day simple moving average of $11.89 and a 200 day simple moving average of $15.13. AudioEye, Inc. has a 1-year low of $8.91 and a 1-year high of $34.85. The stock has a market cap of $157.84 million, a P/E ratio of -46.93, a PEG ratio of 2.03 and a beta of 0.94.

Insider Activity

In related news, Director James B. Hawkins purchased 13,300 shares of the company's stock in a transaction that occurred on Wednesday, March 19th. The stock was acquired at an average price of $15.39 per share, with a total value of $204,687.00. Following the completion of the purchase, the director now directly owns 114,382 shares in the company, valued at $1,760,338.98. This trade represents a 13.16% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 28.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on AEYE shares. Needham & Company LLC reaffirmed a "buy" rating and set a $25.00 price objective on shares of AudioEye in a research report on Wednesday, April 30th. HC Wainwright reiterated a "buy" rating and issued a $22.00 target price on shares of AudioEye in a research note on Wednesday, April 30th. Wall Street Zen upgraded AudioEye from a "hold" rating to a "buy" rating in a research note on Saturday, May 24th. Finally, B. Riley cut their price target on AudioEye from $26.00 to $20.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $26.40.

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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