HC Wainwright Lowers AudioEye (NASDAQ:AEYE) Price Target to $22.00

AudioEye (NASDAQ:AEYE) had its price objective dropped by research analysts at HC Wainwright from $37.00 to $22.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price target would suggest a potential upside of 94.00% from the stock’s previous close.

Separately, Needham & Company LLC reiterated a “buy” rating and set a $25.00 target price on shares of AudioEye in a report on Thursday. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AudioEye currently has a consensus rating of “Buy” and an average target price of $26.10.

AudioEye Price Performance

AudioEye stock opened at $11.34 on Thursday. The firm has a market cap of $138.10 million, a PE ratio of -42.00, a price-to-earnings-growth ratio of 2.03 and a beta of 1.11. AudioEye has a 52-week low of $8.14 and a 52-week high of $34.85. 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 company’s 50 day moving average is $15.99 and its two-hundred day moving average is $20.29.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. R Squared Ltd purchased a new position in shares of AudioEye in the 4th quarter valued at $36,000. Quarry LP purchased a new position in shares of AudioEye in the 4th quarter valued at $47,000. MetLife Investment Management LLC purchased a new position in shares of AudioEye in the 3rd quarter valued at $54,000. Wells Fargo & Company MN grew its position 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 buying an additional 1,035 shares during the last quarter. Finally, Ieq Capital LLC purchased a new position in shares of AudioEye in the 4th quarter valued at $153,000. 51.11% of the stock is owned by hedge funds and other institutional investors.

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.