Needham & Company LLC Reiterates “Buy” Rating for AudioEye (NASDAQ:AEYE)

AudioEye (NASDAQ:AEYE)‘s stock had its “buy” rating reiterated by stock analysts at Needham & Company LLC in a note issued to investors on Wednesday,Benzinga reports. They presently have a $25.00 target price on the stock. Needham & Company LLC’s price objective suggests a potential upside of 125.63% from the company’s previous close.

A number of other research firms also recently issued reports on AEYE. B. Riley dropped their target price on shares of AudioEye from $26.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. HC Wainwright dropped their price objective on shares of AudioEye from $37.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, March 13th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $26.40.

AudioEye Price Performance

Shares of AudioEye stock opened at $11.08 on Wednesday. The stock has a market capitalization of $137.69 million, a P/E ratio of -41.04, a PEG ratio of 2.03 and a beta of 1.39. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.92. The business’s fifty day moving average price is $11.66 and its 200 day moving average price is $17.46. AudioEye has a twelve month low of $8.91 and a twelve month high of $34.85.

Insider Activity

In other AudioEye news, Director James B. Hawkins purchased 13,300 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The shares were acquired at an average price of $15.39 per share, for a total transaction of $204,687.00. Following the completion of the purchase, the director now owns 114,382 shares in the company, valued at $1,760,338.98. The trade was a 13.16 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 40.70% of the company’s stock.

Hedge Funds Weigh In On AudioEye

A number of institutional investors have recently made changes to their positions in AEYE. CWM LLC increased its stake in shares of AudioEye by 74.0% in the first quarter. CWM LLC now owns 4,870 shares of the company’s stock worth $54,000 after buying an additional 2,071 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in AudioEye by 6.5% during the 1st quarter. Bank of New York Mellon Corp now owns 49,912 shares of the company’s stock worth $554,000 after acquiring an additional 3,052 shares in the last quarter. Skylands Capital LLC increased its position in shares of AudioEye by 494.5% in the 1st quarter. Skylands Capital LLC now owns 80,550 shares of the company’s stock worth $894,000 after purchasing an additional 67,000 shares during the last quarter. Rhumbline Advisers increased its position in shares of AudioEye by 14.5% in the 1st quarter. Rhumbline Advisers now owns 10,360 shares of the company’s stock worth $115,000 after purchasing an additional 1,313 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of AudioEye by 44,300.0% in the 1st quarter. GAMMA Investing LLC now owns 7,992 shares of the company’s stock valued at $89,000 after purchasing an additional 7,974 shares in the last quarter. 51.11% of the stock is owned by institutional investors and hedge funds.

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.