Insider Selling: Audioeye (NASDAQ:AEYE) Chairman Sells $505,284.32 in Stock

Audioeye, Inc. (NASDAQ:AEYE) Chairman David Moradi sold 37,484 shares of Audioeye stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $13.48, for a total transaction of $505,284.32. Following the transaction, the chairman directly owned 1,811,278 shares in the company, valued at $24,416,027.44. This trade represents a 2.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Tuesday, November 3rd, David Moradi sold 39,312 shares of Audioeye stock. The stock was sold at an average price of $13.45, for a total transaction of $528,746.40.
• On Friday, October 30th, David Moradi sold 100,845 shares of Audioeye stock. The shares were sold at an average price of $13.53, for a total transaction of $1,364,432.85.

Audioeye Price Performance

NASDAQ:AEYE opened at $12.06 on Friday. Audioeye, Inc. has a 52 week low of $5.31 and a 52 week high of $14.68. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 3.03. The company has a market capitalization of $153.04 million, a P/E ratio of -50.25 and a beta of 0.77. The stock’s fifty day moving average is $8.11 and its two-hundred day moving average is $7.21.

Audioeye (NASDAQ:AEYE) last issued its quarterly earnings data on Monday, October 26th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.03. Audioeye had a positive return on equity of 163.66% and a negative net margin of 7.12%. The firm had revenue of $10.96 million during the quarter, compared to the consensus estimate of $10.94 million. Equities analysts expect that Audioeye, Inc. will post 0.64 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AEYE. Wall Street Zen raised Audioeye from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 22nd. Weiss Ratings restated a “sell (e+)” rating on shares of Audioeye in a research report on Friday, August 7th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $14.62.

Institutional Investors Weigh In On Audioeye

Several large investors have recently added to or reduced their stakes in AEYE. Engineers Gate Manager LP purchased a new stake in Audioeye during the 2nd quarter worth approximately $79,000. Compass Financial Management LLC purchased a new position in Audioeye in the 2nd quarter valued at approximately $55,000. Globeflex Capital L P purchased a new position in Audioeye in the 2nd quarter valued at approximately $462,000. Bank of New York Mellon Corp purchased a new position in Audioeye in the 2nd quarter valued at approximately $206,000. Finally, Focus Financial Network Inc. grew its stake in shares of Audioeye by 35.7% in the second quarter. Focus Financial Network Inc. now owns 122,650 shares of the company’s stock worth $713,000 after acquiring an additional 32,270 shares in the last quarter. 51.11% of the stock is owned by hedge funds and other institutional investors.

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.