AudioEye, Inc. (NASDAQ:AEYE) Receives $29.10 Consensus Target Price from Analysts

AudioEye, Inc. (NASDAQ:AEYE) has received a consensus recommendation of “Buy” from the six ratings firms that are presently covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $29.10.

AEYE has been the topic of several analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $25.00 price target on shares of AudioEye in a research report on Tuesday, January 21st. Roth Mkm restated a “buy” rating and set a $35.00 target price (up from $25.00) on shares of AudioEye in a research note on Friday, November 8th. Finally, HC Wainwright lifted their price target on AudioEye from $28.00 to $37.00 and gave the company a “buy” rating in a research note on Monday, November 11th.

AudioEye Trading Down 2.7 %

AEYE opened at $18.92 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.92. AudioEye has a twelve month low of $4.52 and a twelve month high of $34.85. The stock has a market capitalization of $230.41 million, a price-to-earnings ratio of -70.07, a P/E/G ratio of 2.53 and a beta of 1.14. The company has a 50-day simple moving average of $17.95 and a 200 day simple moving average of $21.61.

Insider Transactions at AudioEye

In related news, CEO David Moradi sold 68,298 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $29.48, for a total transaction of $2,013,425.04. Following the sale, the chief executive officer now owns 2,830,035 shares in the company, valued at $83,429,431.80. The trade was a 2.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Carr Bettis sold 225,000 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $24.00, for a total value of $5,400,000.00. Following the completion of the transaction, the insider now owns 200,045 shares of the company’s stock, valued at $4,801,080. This represents a 52.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,342,859 shares of company stock worth $32,684,480. Corporate insiders own 40.70% of the company’s stock.

Institutional Investors Weigh In On AudioEye

Institutional investors have recently added to or reduced their stakes in the business. MetLife Investment Management LLC acquired a new position in shares of AudioEye during the third quarter worth $54,000. R Squared Ltd acquired a new position in AudioEye during the 4th quarter worth about $36,000. CWM LLC bought a new stake in shares of AudioEye in the 3rd quarter valued at about $93,000. Ieq Capital LLC acquired a new stake in shares of AudioEye in the fourth quarter valued at about $153,000. Finally, Barclays PLC raised its position in shares of AudioEye by 37.7% during the third quarter. Barclays PLC now owns 10,181 shares of the company’s stock worth $233,000 after acquiring an additional 2,788 shares during the last quarter. 51.11% of the stock is owned by institutional investors.

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.