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

Shares of AudioEye, Inc. (NASDAQ:AEYE) have been assigned a consensus rating of “Buy” from the six brokerages that are covering the stock, Marketbeat.com reports. Five equities 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 objective among brokers that have covered the stock in the last year is $29.10.

A number of research firms have commented on AEYE. Needham & Company LLC reiterated a “buy” rating and issued a $25.00 price target on shares of AudioEye in a research report on Tuesday, January 21st. Roth Mkm reiterated a “buy” rating and issued a $35.00 price target (up previously from $25.00) on shares of AudioEye in a research report on Friday, November 8th. Finally, HC Wainwright upped their price target on AudioEye from $28.00 to $37.00 and gave the company a “buy” rating in a research report on Monday, November 11th.

AudioEye Price Performance

Shares of AEYE opened at $13.01 on Wednesday. AudioEye has a 12-month low of $6.58 and a 12-month high of $34.85. The business has a 50-day simple moving average of $16.72 and a two-hundred day simple moving average of $20.94. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.92. The stock has a market cap of $158.46 million, a PE ratio of -48.19, a PEG ratio of 2.03 and a beta of 1.14.

Insider Transactions at AudioEye

In other news, CEO David Moradi sold 900,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $24.00, for a total value of $21,600,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,864,290 shares of the company’s stock, valued at $44,742,960. This represents a 32.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jamil A. Tahir sold 125,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $24.00, for a total value of $3,000,000.00. Following the completion of the sale, the director now directly owns 195,000 shares of the company’s stock, valued at approximately $4,680,000. This trade represents a 39.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,250,000 shares of company stock valued at $30,000,000 over the last ninety days. 40.70% of the stock is currently owned by insiders.

Institutional Trading of AudioEye

Institutional investors and hedge funds have recently modified their holdings of the stock. R Squared Ltd purchased a new stake in shares of AudioEye in the fourth quarter worth approximately $36,000. Quarry LP purchased a new stake in shares of AudioEye during the fourth quarter valued at approximately $47,000. MetLife Investment Management LLC purchased a new stake in shares of AudioEye during the third quarter valued at approximately $54,000. Wells Fargo & Company MN increased its position in shares of AudioEye by 30.0% during the fourth quarter. Wells Fargo & Company MN now owns 4,485 shares of the company’s stock valued at $68,000 after acquiring an additional 1,035 shares during the last quarter. Finally, Ieq Capital LLC purchased a new stake in shares of AudioEye during the fourth quarter valued at approximately $153,000. 51.11% of the stock is owned by hedge funds and other 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.