B. Riley Cuts AudioEye (NASDAQ:AEYE) Price Target to $20.00

AudioEye (NASDAQ:AEYE) had its price objective decreased by B. Riley from $26.00 to $20.00 in a research note published on Tuesday,Benzinga reports. B. Riley currently has a buy rating on the stock.

Other research analysts have also issued reports about the company. Needham & Company LLC reaffirmed a “buy” rating and set a $25.00 target price on shares of AudioEye in a research report on Wednesday, April 2nd. HC Wainwright decreased their target price 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 equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $26.40.

AudioEye Trading Up 3.8 %

Shares of NASDAQ AEYE opened at $11.93 on Tuesday. The firm has a 50 day moving average price of $12.07 and a two-hundred day moving average price of $17.84. The stock has a market cap of $148.25 million, a P/E ratio of -44.19, a price-to-earnings-growth ratio of 2.03 and a beta of 1.39. 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 quick ratio of 0.84 and a current ratio of 0.84.

Insiders Place Their Bets

In other news, Director James B. Hawkins bought 13,300 shares of the stock in a transaction dated Wednesday, March 19th. The shares were bought at an average cost of $15.39 per share, with a total value of $204,687.00. Following the completion of the transaction, the director now directly owns 114,382 shares of the company’s stock, valued at $1,760,338.98. This trade represents a 13.16 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 40.70% of the company’s stock.

Institutional Trading of AudioEye

Several hedge funds have recently bought and sold shares of AEYE. Rhumbline Advisers lifted its stake in shares of AudioEye by 14.5% in the first quarter. Rhumbline Advisers now owns 10,360 shares of the company’s stock valued at $115,000 after buying an additional 1,313 shares in the last quarter. GAMMA Investing LLC boosted its stake in AudioEye by 44,300.0% during 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 during the last quarter. Arcadia Wealth Management Inc. bought a new stake in AudioEye during the 4th quarter worth approximately $720,000. B. Riley Wealth Advisors Inc. raised its stake in shares of AudioEye by 26.2% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 16,375 shares of the company’s stock worth $249,000 after purchasing an additional 3,400 shares during the last quarter. Finally, PharVision Advisers LLC bought a new position in shares of AudioEye in the fourth quarter valued at approximately $178,000. Institutional investors and hedge funds 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.