Weiss Ratings Reiterates Sell (E+) Rating for Audioeye (NASDAQ:AEYE)

Key Points

• Weiss Ratings has reiterated a Sell (E+) rating for Audioeye (NASDAQ: AEYE), indicating continued skepticism about the company's stock performance.
• While Weiss Ratings maintains a Sell rating, other firms have mixed views; B. Riley recently lowered its price target to $19, whereas Wall Street Zen upgraded Audioeye to a Buy rating.
• Insider buying has been active, with Director Jamil A. Tahir purchasing over 12,000 shares, suggesting confidence in the company despite the prevailing market rating challenges.

Audioeye (NASDAQ:AEYE - Get Free Report)'s stock had its "sell (e+)" rating reissued by research analysts at Weiss Ratings in a report released on Friday,Weiss Ratings reports.

Several other equities analysts also recently issued reports on AEYE. B. Riley dropped their price target on shares of Audioeye from $20.00 to $19.00 and set a "buy" rating for the company in a research note on Friday, August 8th. Wall Street Zen upgraded shares of Audioeye from a "hold" rating to a "buy" rating in a research report on Friday, September 5th. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $25.25.

Audioeye Price Performance

Shares of Audioeye stock traded up $0.29 on Friday, reaching $14.33. 35,457 shares of the stock were exchanged, compared to its average volume of 126,288. The firm's 50 day moving average is $13.26 and its 200-day moving average is $12.42. The firm has a market cap of $177.77 million, a PE ratio of -42.13 and a beta of 0.58. Audioeye has a one year low of $8.91 and a one year high of $34.85. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.10 and a current ratio of 1.10.

Insider Activity at Audioeye

In other news, Director Jamil A. Tahir bought 12,359 shares of the firm's stock in a transaction that occurred on Friday, September 5th. The shares were acquired at an average price of $12.71 per share, with a total value of $157,082.89. Following the acquisition, the director owned 220,000 shares of the company's stock, valued at approximately $2,796,200. The trade was a 5.95% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director James B. Hawkins bought 8,000 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The shares were purchased at an average cost of $10.95 per share, for a total transaction of $87,600.00. Following the acquisition, the director directly owned 146,183 shares in the company, valued at $1,600,703.85. This trade represents a 5.79% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders bought 33,000 shares of company stock worth $403,833. Insiders own 28.80% of the company's stock.

Institutional Investors Weigh In On Audioeye

Institutional investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC bought a new stake in Audioeye during the 3rd quarter valued at about $26,000. US Bancorp DE boosted its holdings in shares of Audioeye by 3,634.2% during the 1st quarter. US Bancorp DE now owns 2,950 shares of the company's stock valued at $33,000 after acquiring an additional 2,871 shares during the last quarter. CWM LLC boosted its holdings in shares of Audioeye by 74.0% during the 1st quarter. CWM LLC now owns 4,870 shares of the company's stock valued at $54,000 after acquiring an additional 2,071 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Audioeye by 19.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,904 shares of the company's stock valued at $54,000 after acquiring an additional 806 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of Audioeye by 14.5% during the 1st quarter. Rhumbline Advisers now owns 10,360 shares of the company's stock valued at $115,000 after acquiring an additional 1,313 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.

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