AudioEye (NASDAQ:AEYE) PT Raised to $28.00

AudioEye (NASDAQ:AEYE) had its target price boosted by equities research analysts at HC Wainwright from $23.00 to $28.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price objective indicates a potential upside of 22.54% from the company’s previous close.

Several other equities research analysts have also recently weighed in on the company. Craig Hallum upped their target price on AudioEye from $20.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Roth Capital raised shares of AudioEye to a “strong-buy” rating in a research note on Friday, June 21st. Finally, Roth Mkm assumed coverage on shares of AudioEye in a research report on Friday, June 21st. They set a “buy” rating and a $25.00 target price on the stock. Four investment 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 stock has a consensus rating of “Buy” and an average target price of $25.38.

AudioEye Stock Down 3.4 %

Shares of NASDAQ AEYE opened at $22.85 on Tuesday. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.16 and a quick ratio of 1.16. The firm has a 50-day simple moving average of $22.46 and a two-hundred day simple moving average of $19.16. AudioEye has a 1 year low of $3.75 and a 1 year high of $29.30. The company has a market cap of $265.95 million, a P/E ratio of -58.59, a PEG ratio of 6.50 and a beta of 1.00.

AudioEye (NASDAQ:AEYE) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.02. The company had revenue of $8.47 million during the quarter, compared to analyst estimates of $8.45 million. AudioEye had a negative net margin of 10.70% and a positive return on equity of 12.34%. Research analysts anticipate that AudioEye will post 0.14 earnings per share for the current year.

Hedge Funds Weigh In On AudioEye

Several institutional investors and hedge funds have recently bought and sold shares of AEYE. Renaissance Technologies LLC boosted its position in shares of AudioEye by 202.5% in the 2nd quarter. Renaissance Technologies LLC now owns 60,500 shares of the company’s stock worth $1,065,000 after purchasing an additional 40,500 shares in the last quarter. ClariVest Asset Management LLC acquired a new stake in AudioEye in the 2nd quarter worth approximately $664,000. Bank of New York Mellon Corp purchased a new stake in AudioEye during the 2nd quarter worth approximately $348,000. Acadian Asset Management LLC increased its stake in AudioEye by 130.6% during the 2nd quarter. Acadian Asset Management LLC now owns 26,939 shares of the company’s stock valued at $473,000 after purchasing an additional 15,256 shares in the last quarter. Finally, Hillsdale Investment Management Inc. acquired a new stake in shares of AudioEye during the first quarter worth $137,000. 51.11% of the stock is owned by hedge funds and other 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.