Roth Mkm Reiterates Buy Rating for AudioEye (NASDAQ:AEYE)

AudioEye (NASDAQ:AEYE)‘s stock had its “buy” rating reissued by research analysts at Roth Mkm in a note issued to investors on Friday,Benzinga reports. They currently have a $35.00 price target on the stock, up from their previous price target of $25.00. Roth Mkm’s price objective would suggest a potential upside of 10.27% from the company’s previous close.

Several other brokerages also recently weighed in on AEYE. Craig Hallum increased their target price on shares of AudioEye from $20.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. HC Wainwright increased their target price on shares of AudioEye from $23.00 to $28.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, AudioEye presently has an average rating of “Buy” and a consensus price target of $27.88.

AudioEye Stock Performance

Shares of AEYE stock opened at $31.74 on Friday. The stock’s 50-day moving average is $23.05 and its two-hundred day moving average is $21.66. The firm has a market cap of $377.07 million, a price-to-earnings ratio of -113.36, a PEG ratio of 6.91 and a beta of 1.03. AudioEye has a 1 year low of $3.91 and a 1 year high of $32.62. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.16 and a current ratio of 1.16.

Institutional Investors Weigh In On AudioEye

A number of hedge funds have recently added to or reduced their stakes in AEYE. Vanguard Group Inc. increased its holdings in AudioEye by 2.3% in the first quarter. Vanguard Group Inc. now owns 309,190 shares of the company’s stock valued at $3,095,000 after buying an additional 6,929 shares in the last quarter. Acadian Asset Management LLC purchased a new position in AudioEye in the first quarter valued at about $116,000. Hillsdale Investment Management Inc. purchased a new position in AudioEye in the first quarter valued at about $137,000. B. Riley Wealth Advisors Inc. increased its holdings in AudioEye by 4.0% in the first quarter. B. Riley Wealth Advisors Inc. now owns 12,975 shares of the company’s stock valued at $130,000 after buying an additional 500 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in AudioEye in the second quarter valued at about $348,000. Institutional investors and hedge funds own 51.11% of the company’s stock.

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.