AudioEye (NASDAQ:AEYE) Coverage Initiated by Analysts at Needham & Company LLC

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

Several other equities research analysts have also issued reports on the stock. HC Wainwright increased their target price on shares of AudioEye from $28.00 to $37.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Roth Mkm reissued a “buy” rating and issued a $35.00 price objective (up from $25.00) on shares of AudioEye in a research note on Friday, November 8th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $29.10.

AudioEye Stock Performance

NASDAQ:AEYE opened at $15.53 on Tuesday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a 50-day simple moving average of $21.82 and a two-hundred day simple moving average of $22.01. The firm has a market capitalization of $189.12 million, a PE ratio of -57.52, a P/E/G ratio of 4.29 and a beta of 1.12. AudioEye has a 52-week low of $4.52 and a 52-week high of $34.85.

Insiders Place Their Bets

In other news, CEO David Moradi sold 68,298 shares of AudioEye stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $29.48, for a total value of $2,013,425.04. Following the sale, the chief executive officer now directly owns 2,830,035 shares of the company’s stock, valued at approximately $83,429,431.80. The trade was a 2.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jamil A. Tahir sold 125,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $24.00, for a total value of $3,000,000.00. Following the transaction, the director now directly owns 195,000 shares of the company’s stock, valued at approximately $4,680,000. The trade was a 39.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,342,859 shares of company stock worth $32,684,480 in the last three months. 40.70% of the stock is owned by company insiders.

Institutional Trading of AudioEye

A number of large investors have recently added to or reduced their stakes in the company. MetLife Investment Management LLC bought a new stake in AudioEye in the third quarter worth $54,000. CWM LLC bought a new position in AudioEye during the third quarter valued at $93,000. Rhumbline Advisers purchased a new position in shares of AudioEye in the 2nd quarter worth $147,000. Barclays PLC increased its holdings 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 buying an additional 2,788 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in shares of AudioEye during the 3rd quarter valued at about $2,350,000. Institutional investors own 51.11% of the company’s stock.

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.