AudioEye (NASDAQ:AEYE) Upgraded to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of AudioEye (NASDAQ:AEYE) from a sell rating to a hold rating in a research note issued to investors on Wednesday morning, Zacks.com reports.

According to Zacks, “AudioEye Inc. engages in creating cloud-based cross-platform/cross-browser screen reader solution for web browsing. It focuses on creating voice driven technologies to enhance the mobility, usability, and accessibility of the Internet based content in the United States. The company develops patented, Internet content publication, and distribution software that enables conversion of any media into accessible formats, as well as allows for real time distribution on any Internet connected device. It offers Audio Internet (R), a software as a service technology platform to Internet and mobile publishers, developers, owners, and operators. AudioEye Inc. is based in Tucson, Arizona. “

AEYE has been the topic of several other reports. Maxim Group reissued a hold rating on shares of AudioEye in a research note on Friday, November 12th. HC Wainwright lowered their price target on shares of AudioEye from $20.00 to $17.00 and set a buy rating on the stock in a research note on Friday, November 12th.

Shares of AEYE opened at $6.17 on Wednesday. The stock has a market capitalization of $70.05 million, a P/E ratio of -5.37 and a beta of 2.01. The company’s fifty day moving average is $7.60 and its two-hundred day moving average is $10.78. AudioEye has a 1 year low of $5.86 and a 1 year high of $44.37.

AudioEye (NASDAQ:AEYE) last announced its quarterly earnings data on Thursday, November 11th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.04). The firm had revenue of $6.20 million during the quarter, compared to analyst estimates of $6.19 million. AudioEye had a negative net margin of 51.75% and a negative return on equity of 65.77%. During the same period in the prior year, the firm posted ($0.12) earnings per share. On average, sell-side analysts anticipate that AudioEye will post -1.29 EPS for the current fiscal year.

In other AudioEye news, insider David Moradi acquired 17,520 shares of the firm’s stock in a transaction that occurred on Thursday, December 2nd. The shares were acquired at an average cost of $7.55 per share, for a total transaction of $132,276.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders purchased a total of 28,858 shares of company stock worth $221,482 over the last quarter. Insiders own 45.10% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the stock. Cannell Capital LLC purchased a new stake in shares of AudioEye in the 3rd quarter worth about $4,926,000. Vanguard Group Inc. boosted its position in shares of AudioEye by 4.3% in the 2nd quarter. Vanguard Group Inc. now owns 248,490 shares of the company’s stock worth $4,171,000 after buying an additional 10,318 shares in the last quarter. Morgan Stanley boosted its position in shares of AudioEye by 217.1% in the 3rd quarter. Morgan Stanley now owns 88,665 shares of the company’s stock worth $978,000 after buying an additional 60,707 shares in the last quarter. Millennium Management LLC boosted its position in shares of AudioEye by 45.3% in the 3rd quarter. Millennium Management LLC now owns 71,911 shares of the company’s stock worth $793,000 after buying an additional 22,435 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in AudioEye in the 3rd quarter valued at about $729,000. Institutional investors and hedge funds own 24.04% of the company’s stock.

AudioEye Company Profile

AudioEye, Inc engages in the provision of digital accessibility technology solutions. It offers patented, Internet content publication and distribution software which enables the conversion of any media into an accessible format and allowing real-time distribution to end-users on any Internet connected device.

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