AudioEye (NASDAQ:AEYE) PT Raised to $17.00

AudioEye (NASDAQ:AEYE) had its target price hoisted by HC Wainwright from $10.00 to $17.00 in a research note released on Thursday morning, Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities analysts have also recently weighed in on the company. Craig Hallum raised their price objective on AudioEye from $10.00 to $20.00 and gave the company a buy rating in a research note on Wednesday, April 10th. B. Riley raised their target price on AudioEye from $10.00 to $14.00 and gave the company a buy rating in a research report on Wednesday, April 10th.

AudioEye Price Performance

AudioEye stock opened at $13.01 on Thursday. The stock has a market capitalization of $151.70 million, a price-to-earnings ratio of -26.55 and a beta of 1.36. AudioEye has a 52-week low of $3.75 and a 52-week high of $15.31. The stock’s 50 day moving average price is $8.88 and its two-hundred day moving average price is $6.14. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.28 and a current ratio of 1.28.

AudioEye (NASDAQ:AEYE) last issued its earnings results on Wednesday, March 6th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.11. AudioEye had a negative return on equity of 27.55% and a negative net margin of 18.75%. The company had revenue of $7.87 million for the quarter, compared to analysts’ expectations of $7.91 million. On average, equities analysts predict that AudioEye will post 0.01 earnings per share for the current year.

Institutional Investors Weigh In On AudioEye

Large investors have recently added to or reduced their stakes in the company. Bank of America Corp DE grew its holdings in AudioEye by 4,864.2% during the 1st quarter. Bank of America Corp DE now owns 8,042 shares of the company’s stock valued at $57,000 after buying an additional 7,880 shares in the last quarter. Millennium Management LLC purchased a new position in AudioEye during the 4th quarter valued at about $58,000. Renaissance Technologies LLC purchased a new position in AudioEye during the 2nd quarter valued at about $59,000. Potomac Capital Management Inc. purchased a new position in AudioEye during the 3rd quarter valued at about $100,000. Finally, BlackRock Inc. grew its holdings in AudioEye by 6.9% during the 2nd quarter. BlackRock Inc. now owns 30,344 shares of the company’s stock valued at $148,000 after buying an additional 1,965 shares in 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.