Digimarc (NASDAQ:DMRC) Trading Down 3.2%

Shares of Digimarc Co. (NASDAQ:DMRC) fell 3.2% during mid-day trading on Tuesday . The stock traded as low as $28.29 and last traded at $28.29. 29,245 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 126,904 shares. The stock had previously closed at $29.23.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on DMRC shares. Needham & Company LLC reissued a “buy” rating and set a $40.00 price target on shares of Digimarc in a research report on Wednesday, August 14th. StockNews.com upgraded Digimarc to a “sell” rating in a report on Tuesday.

Digimarc Stock Down 2.7 %

The stock’s fifty day moving average is $29.71 and its two-hundred day moving average is $27.75. The firm has a market capitalization of $608.06 million, a price-to-earnings ratio of -13.68 and a beta of 1.70.

Digimarc (NASDAQ:DMRC) last released its quarterly earnings data on Tuesday, August 13th. The information technology services provider reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.04. Digimarc had a negative net margin of 105.98% and a negative return on equity of 41.60%. The company had revenue of $10.38 million for the quarter.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in DMRC. Kimelman & Baird LLC acquired a new stake in Digimarc during the 2nd quarter valued at $18,249,000. Goldman Sachs Group Inc. lifted its stake in shares of Digimarc by 1,834.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 547,966 shares of the information technology services provider’s stock worth $19,793,000 after buying an additional 519,643 shares during the last quarter. Beaconlight Capital LLC lifted its stake in shares of Digimarc by 34.7% during the 1st quarter. Beaconlight Capital LLC now owns 778,017 shares of the information technology services provider’s stock worth $21,147,000 after buying an additional 200,251 shares during the last quarter. Woodson Capital Management LP bought a new stake in shares of Digimarc during the 1st quarter worth about $2,718,000. Finally, Squarepoint Ops LLC acquired a new position in Digimarc in the 2nd quarter valued at about $747,000. 66.85% of the stock is currently owned by institutional investors.

Digimarc Company Profile

Digimarc Corporation, together with its subsidiaries, provides automatic identification solutions to commercial and government customers in the United States and internationally. The company offers Digimarc Validate protects, a cloud-based record of product authentication information; Digimarc Engage, an interactive communications channel connecting brands and consumers; and Digimarc Recycle.