Insider Selling: Audioeye (NASDAQ:AEYE) Chairman Sells 39,312 Shares of Company Stock

Audioeye, Inc. (NASDAQ:AEYE) Chairman David Moradi sold 39,312 shares of Audioeye stock in a transaction that occurred on Tuesday, November 3rd. The shares were sold at an average price of $13.45, for a total transaction of $528,746.40. Following the transaction, the chairman directly owned 1,771,966 shares in the company, valued at $23,832,942.70. This represents a 2.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

David Moradi also recently made the following trade(s):

• On Monday, November 2nd, David Moradi sold 37,484 shares of Audioeye stock. The stock was sold at an average price of $13.48, for a total transaction of $505,284.32.
• On Friday, October 30th, David Moradi sold 100,845 shares of Audioeye stock. The stock was sold at an average price of $13.53, for a total transaction of $1,364,432.85.

Audioeye Price Performance

Shares of NASDAQ AEYE traded up $0.24 during midday trading on Tuesday, reaching $13.59. The stock had a trading volume of 318,094 shares, compared to its average volume of 174,102. The company has a market capitalization of $172.46 million, a price-to-earnings ratio of -56.62 and a beta of 0.84. Audioeye, Inc. has a 12-month low of $5.31 and a 12-month high of $15.32. The stock has a 50-day moving average of $7.78 and a 200-day moving average of $7.16. The company has a debt-to-equity ratio of 3.03, a quick ratio of 1.06 and a current ratio of 1.23.

Audioeye (NASDAQ:AEYE) last released its earnings results on Monday, October 26th. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.03. The company had revenue of $10.96 million for the quarter, compared to analysts’ expectations of $10.94 million. Audioeye had a negative net margin of 7.12% and a positive return on equity of 163.66%. As a group, research analysts anticipate that Audioeye, Inc. will post 0.64 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on AEYE shares. Wall Street Zen upgraded Audioeye from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 22nd. Weiss Ratings reissued a “sell (e+)” rating on shares of Audioeye in a report on Friday, August 7th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $14.62.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in AEYE. Compass Financial Management LLC purchased a new position in shares of Audioeye during the second quarter valued at about $55,000. Abel Hall LLC purchased a new stake in shares of Audioeye in the first quarter worth about $75,000. Engineers Gate Manager LP bought a new position in Audioeye during the second quarter valued at approximately $79,000. Bank of New York Mellon Corp bought a new position in Audioeye during the second quarter valued at approximately $206,000. Finally, Globeflex Capital L P purchased a new position in Audioeye during the 2nd quarter valued at approximately $462,000. Institutional investors own 51.11% of the company’s stock.

About Audioeye

AudioEye, Inc (NASDAQ: AEYE) provides digital accessibility technology and services designed to help organizations make websites and digital content more usable for people with disabilities. Its platform is intended to support compliance with accessibility standards and regulations, including the Web Content Accessibility Guidelines (WCAG) and requirements associated with the Americans with Disabilities Act.

The company’s offerings include automated accessibility testing, monitoring and remediation tools, an accessibility interface for website visitors, and access to accessibility experts who can assist with testing and compliance programs.