AudioEye (NASDAQ:AEYE) Earns Buy Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of AudioEye (NASDAQ:AEYE) in a research report report published on Wednesday,Benzinga reports. Needham & Company LLC currently has a $25.00 price target on the stock.

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

AudioEye Trading Down 10.3 %

AEYE opened at $9.97 on Wednesday. The firm has a market capitalization of $123.76 million, a price-to-earnings ratio of -36.93, a PEG ratio of 2.03 and a beta of 1.39. AudioEye has a one year low of $8.44 and a one year high of $34.85. The business has a 50 day simple moving average of $14.49 and a two-hundred day simple moving average of $19.12. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.84 and a quick ratio of 0.84.

Insiders Place Their Bets

In other news, Director James B. Hawkins purchased 13,300 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The shares were bought at an average cost of $15.39 per share, for a total transaction of $204,687.00. Following the completion of the transaction, the director now directly owns 114,382 shares of the company’s stock, valued at $1,760,338.98. This trade represents a 13.16 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 40.70% of the company’s stock.

Hedge Funds Weigh In On AudioEye

Several institutional investors and hedge funds have recently added to or reduced their stakes in AEYE. Alyeska Investment Group L.P. purchased a new stake in shares of AudioEye in the 4th quarter worth about $3,802,000. Hood River Capital Management LLC bought a new stake in AudioEye during the fourth quarter worth about $3,739,000. Formula Growth Ltd. purchased a new stake in AudioEye in the fourth quarter worth about $1,977,000. Northern Trust Corp increased its stake in shares of AudioEye by 23.3% during the fourth quarter. Northern Trust Corp now owns 82,837 shares of the company’s stock valued at $1,260,000 after purchasing an additional 15,648 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in shares of AudioEye during the fourth quarter valued at approximately $1,011,000. 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.