Audioeye (NASDAQ:AEYE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Monday, 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 also recently issued reports on AEYE. B. Riley set a $13.00 price objective on shares of Audioeye and gave the company a “buy” rating in a report on Monday, May 13th. National Securities restated a “buy” rating and set a $12.50 target price on shares of Audioeye in a report on Wednesday, May 15th.

AEYE traded down $0.21 during trading on Monday, reaching $8.54. The company had a trading volume of 136 shares, compared to its average volume of 39,390. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.22 and a current ratio of 1.50. Audioeye has a 12 month low of $4.75 and a 12 month high of $12.40. The firm has a market cap of $66.87 million, a P/E ratio of -12.20 and a beta of 0.74.

Audioeye (NASDAQ:AEYE) last posted its quarterly earnings data on Tuesday, May 14th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.18) by ($0.10). Audioeye had a negative net margin of 92.33% and a negative return on equity of 121.68%. The business had revenue of $1.99 million during the quarter, compared to analyst estimates of $2.02 million. On average, sell-side analysts anticipate that Audioeye will post -0.64 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the stock. Millennium Management LLC acquired a new position in Audioeye during the fourth quarter worth $476,000. HighPoint Advisor Group LLC bought a new stake in shares of Audioeye in the first quarter valued at about $151,000. Morgan Stanley bought a new stake in shares of Audioeye in the first quarter valued at about $123,000. Finally, Deutsche Bank AG bought a new stake in shares of Audioeye in the fourth quarter valued at about $59,000. Institutional investors and hedge funds own 5.15% of the company’s stock.

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.

Further Reading: Oversold

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