Audioeye (NASDAQ:AEYE) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Audioeye (NASDAQ:AEYE) from a hold rating to a sell rating in a research report sent to investors on Tuesday 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. “

A number of other research firms have also issued reports on AEYE. National Securities reaffirmed a buy rating and issued a $12.50 price target on shares of Audioeye in a research report on Wednesday, May 15th. B. Riley set a $13.00 price target on Audioeye and gave the company a buy rating in a research report on Friday, May 31st.

AEYE opened at $3.95 on Tuesday. The stock has a fifty day moving average of $6.33 and a 200-day moving average of $8.43. The firm has a market capitalization of $29.89 million, a P/E ratio of -5.64 and a beta of 1.19. Audioeye has a 12-month low of $3.57 and a 12-month high of $12.40. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.32.

Audioeye (NASDAQ:AEYE) last issued its quarterly earnings data on Wednesday, August 14th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.08). The firm had revenue of $2.44 million for the quarter, compared to analysts’ expectations of $2.34 million. Audioeye had a negative net margin of 89.94% and a negative return on equity of 138.10%. On average, analysts expect that Audioeye will post -1.02 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of AEYE. Deutsche Bank AG acquired a new position in shares of Audioeye during the fourth quarter valued at about $59,000. Bank of Montreal Can acquired a new position in shares of Audioeye in the 2nd quarter valued at $55,000. BlackRock Inc. acquired a new position in shares of Audioeye in the 2nd quarter valued at $95,000. HighPoint Advisor Group LLC acquired a new position in shares of Audioeye in the 1st quarter valued at $151,000. Finally, Buckingham Asset Management LLC acquired a new position in shares of Audioeye in the 2nd quarter valued at $308,000. Institutional investors and hedge funds own 6.36% of the company’s stock.

Audioeye Company Profile

AudioEye, Inc provides Web accessibility solutions to Internet, print, broadcast, and other media to people regardless of their network connection, device, location, or disabilities in the United States. The company develops patented Internet content publication and distribution software that enables conversion of media into accessible formats, as well as allows for real time distribution on various Internet connected devices.

Further Reading: The Discount Rate – What You Need to Know

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