B. Riley Cuts Audioeye (NASDAQ:AEYE) Price Target to $9.00

Audioeye (NASDAQ:AEYE) had its price objective cut by B. Riley from $9.75 to $9.00 in a research report report published on Tuesday morning, BenzingaRatingsTable reports. They currently have a buy rating on the stock.

A number of other analysts have also recently commented on the stock. Zacks Investment Research raised shares of Audioeye from a sell rating to a hold rating in a research note on Tuesday, January 14th. ValuEngine raised shares of Audioeye from a buy rating to a strong-buy rating in a research note on Tuesday, December 10th. One equities research analyst has rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Audioeye currently has an average rating of Buy and a consensus price target of $10.00.

Shares of AEYE stock traded down $0.23 on Tuesday, reaching $4.09. 28,300 shares of the company were exchanged, compared to its average volume of 22,462. The company has a market cap of $32.75 million, a price-to-earnings ratio of -4.17 and a beta of 1.70. The business has a 50-day moving average price of $4.06 and a 200 day moving average price of $4.28. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.07 and a current ratio of 1.07. Audioeye has a 1 year low of $1.94 and a 1 year high of $11.30.

Audioeye (NASDAQ:AEYE) last released its earnings results on Monday, March 23rd. The company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.12. The business had revenue of $3.60 million during the quarter, compared to analysts’ expectations of $3.06 million. Audioeye had a negative net margin of 71.83% and a negative return on equity of 237.53%. As a group, equities analysts anticipate that Audioeye will post -0.99 earnings per share for the current year.

A hedge fund recently raised its stake in Audioeye stock. Millennium Management LLC boosted its holdings in shares of Audioeye Inc (NASDAQ:AEYE) by 106.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,802 shares of the company’s stock after acquiring an additional 534,302 shares during the period. Millennium Management LLC owned 0.36% of Audioeye worth $123,000 at the end of the most recent reporting period. 3.98% of the stock is currently owned by institutional investors and hedge funds.

About Audioeye

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.

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