HC Wainwright Reiterates “Buy” Rating for AudioEye (NASDAQ:AEYE)

AudioEye (NASDAQ:AEYE)‘s stock had its “buy” rating restated by equities researchers at HC Wainwright in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $22.00 price target on the stock. HC Wainwright’s price objective would suggest a potential upside of 98.56% from the stock’s previous close.

A number of other research firms have also recently issued reports on AEYE. B. Riley reduced their target price on shares of AudioEye from $26.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $25.00 price objective on shares of AudioEye in a research note on Wednesday. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $26.40.

AudioEye Stock Up 2.1 %

Shares of AudioEye stock opened at $11.08 on Wednesday. The firm has a market cap of $137.69 million, a price-to-earnings ratio of -41.04, a P/E/G ratio of 2.03 and a beta of 1.39. The stock has a 50-day simple moving average of $11.66 and a 200-day simple moving average of $17.46. AudioEye has a 52-week low of $8.91 and a 52-week high of $34.85. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.84 and a quick ratio of 0.84.

Insider Buying and Selling at AudioEye

In other news, Director James B. Hawkins acquired 13,300 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The stock was acquired at an average cost of $15.39 per share, with a total value of $204,687.00. Following the acquisition, the director now owns 114,382 shares in the company, valued at approximately $1,760,338.98. This represents a 13.16 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 40.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of AEYE. Alyeska Investment Group L.P. bought a new stake in AudioEye during the fourth quarter valued at about $3,802,000. Hood River Capital Management LLC bought a new position in shares of AudioEye in the fourth quarter worth about $3,739,000. Formula Growth Ltd. acquired a new position in shares of AudioEye during the 4th quarter worth about $1,977,000. Northern Trust Corp boosted its stake in AudioEye by 23.3% during the 4th 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 during the period. Finally, Skylands Capital LLC grew its holdings in AudioEye by 494.5% in the 1st quarter. Skylands Capital LLC now owns 80,550 shares of the company’s stock valued at $894,000 after buying an additional 67,000 shares during the last quarter. 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.