Needham & Company LLC Reiterates “Buy” Rating for AudioEye (NASDAQ:AEYE)

AudioEye (NASDAQ:AEYE)‘s stock had its “buy” rating reissued by Needham & Company LLC in a research note issued on Wednesday,Benzinga reports. They currently have a $25.00 price target on the stock. Needham & Company LLC’s price objective indicates a potential upside of 121.43% from the stock’s previous close.

Separately, HC Wainwright lowered their price objective on shares of AudioEye from $37.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, March 13th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $26.10.

AudioEye Stock Up 1.7 %

AEYE stock opened at $11.29 on Wednesday. The company’s 50 day moving average is $14.91 and its 200 day moving average is $19.31. The stock has a market cap of $140.14 million, a price-to-earnings ratio of -41.81, a price-to-earnings-growth ratio of 2.03 and a beta of 1.11. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.92. AudioEye has a 1-year low of $8.44 and a 1-year high of $34.85.

Insider Transactions at AudioEye

In other AudioEye news, Director James B. Hawkins bought 13,300 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The shares were bought at an average price of $15.39 per share, for a total transaction of $204,687.00. Following the transaction, 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 at the SEC website. Company insiders own 40.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of AEYE. Wells Fargo & Company MN lifted its stake in shares of AudioEye by 30.0% in the 4th 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. Barclays PLC raised its holdings in AudioEye by 10.9% during the 4th quarter. Barclays PLC now owns 11,292 shares of the company’s stock valued at $172,000 after buying an additional 1,111 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in AudioEye by 7.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 22,361 shares of the company’s stock worth $511,000 after acquiring an additional 1,477 shares during the last quarter. MetLife Investment Management LLC purchased a new position in shares of AudioEye in the third quarter valued at about $54,000. Finally, R Squared Ltd bought a new position in shares of AudioEye during the fourth quarter valued at about $36,000. 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.