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

Needham & Company LLC began coverage on shares of AudioEye (NASDAQ:AEYE) in a research note released on Tuesday morning, Marketbeat reports. The brokerage issued a buy rating and a $25.00 price target on the stock.

A number of other research analysts also recently weighed in on AEYE. HC Wainwright raised their price target on shares of AudioEye from $28.00 to $37.00 and gave the company a “buy” rating in a report on Monday, November 11th. Roth Mkm restated a “buy” rating and set a $35.00 target price (up from $25.00) on shares of AudioEye in a report on Friday, November 8th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $29.10.

AudioEye Trading Down 9.1 %

NASDAQ:AEYE opened at $14.11 on Tuesday. The company has a market capitalization of $171.83 million, a P/E ratio of -52.26, a P/E/G ratio of 4.29 and a beta of 1.12. The stock’s 50 day moving average price is $21.51 and its 200 day moving average price is $21.90. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.84 and a current ratio of 0.84. AudioEye has a 52 week low of $4.52 and a 52 week high of $34.85.

Insider Buying and Selling

In other news, insider Carr Bettis sold 225,000 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 $5,400,000.00. Following the completion of the sale, the insider now directly owns 200,045 shares of the company’s stock, valued at approximately $4,801,080. This represents a 52.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David Moradi sold 900,000 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $24.00, for a total transaction of $21,600,000.00. Following the completion of the sale, the chief executive officer now owns 1,864,290 shares in the company, valued at approximately $44,742,960. The trade was a 32.56 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,342,859 shares of company stock valued at $32,684,480. Company insiders own 40.70% of the company’s stock.

Institutional Trading of AudioEye

A number of hedge funds have recently bought and sold shares of the stock. MetLife Investment Management LLC bought a new position in shares of AudioEye during the 3rd quarter worth about $54,000. CWM LLC acquired a new stake in AudioEye during the third quarter worth about $93,000. Rhumbline Advisers bought a new position in AudioEye during the second quarter valued at about $147,000. Total Clarity Wealth Management Inc. acquired a new position in AudioEye in the 2nd quarter valued at approximately $221,000. Finally, Barclays PLC lifted its position in shares of AudioEye by 37.7% in the 3rd quarter. Barclays PLC now owns 10,181 shares of the company’s stock worth $233,000 after acquiring an additional 2,788 shares during the period. 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.