AudioEye Names David Moradi as CEO

Arizona-based AudioEye, Inc.’s (NASDAQ: AEYE) Board has appointed David Moradi as its CEO, effective January 13. Moradi has been the company’s Interim CEO for the past 18 months.

Commenting on the appointment, the Executive Chairman of AudioEye, Carr Bettis, said, “Over the past two years, David has skillfully, tenaciously, and tirelessly led AudioEye’s transformation into a higher margin and more scalable enterprise with a truly differentiated product that brings transparency to the issues of web accessibility.. We value not only his strong leadership and commitment but also the significant personal financial investment he has made in AudioEye, which we believe strengthens the alignment of interest between management and other shareholders.”

Accepting the appointment, Moradi said, “My tenure at AudioEye began as Chair of the Strategic Committee of the Board of Directors in 2019, with the goal of building a scalable product with high gross margins.. We have hired over 90 people over the last 18 months, including every member of leadership, and now have the strongest team at any point in the company’s history.”

About AudioEye

AudioEye offers digital accessibility technology solutions such as mobile, advertising and Internet technologies that enable users to transact, communicate and engage with products, brands and content.

The company’s shares closed 0.4% down on Friday at $6.22.

Price Target

Overall, the stock has a Moderate Buy consensus rating based on 2 Buys and 1 Hold. The average AEYE price target of $16 implies 159.3% upside potential. Shares have lost 74.1% over the past year.

Hedge Fund Activity

TipRanks data points that Wall Street’s top hedge funds have decreased holdings in AudioEye by 14,400 shares in the last quarter, indicating a Neutral hedge fund confidence signal in the stock.

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