Digimarc (NASDAQ:DMRC) Shares Gap Up – Should You Buy?

Digimarc Co. (NASDAQ:DMRC) gapped up before the market opened on Monday . The stock had previously closed at $27.46, but opened at $29.81. Digimarc shares last traded at $26.05, with a volume of 107,951 shares trading hands.

Analyst Ratings Changes

Separately, Needham & Company LLC restated a “buy” rating and issued a $40.00 target price on shares of Digimarc in a research report on Friday, November 15th.

Digimarc Stock Up 0.3 %

The stock has a market capitalization of $576.87 million, a P/E ratio of -13.81 and a beta of 1.66. The firm’s 50-day simple moving average is $37.70 and its 200 day simple moving average is $32.87.

Institutional Trading of Digimarc

Hedge funds and other institutional investors have recently made changes to their positions in the business. KLP Kapitalforvaltning AS acquired a new position in Digimarc in the fourth quarter worth approximately $105,000. Tower Research Capital LLC TRC grew its holdings in shares of Digimarc by 469.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,951 shares of the information technology services provider’s stock worth $111,000 after acquiring an additional 2,433 shares during the last quarter. FMR LLC raised its position in shares of Digimarc by 201.6% during the third quarter. FMR LLC now owns 4,983 shares of the information technology services provider’s stock worth $134,000 after purchasing an additional 3,331 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of Digimarc by 28.4% during the third quarter. BNP Paribas Financial Markets now owns 7,800 shares of the information technology services provider’s stock valued at $210,000 after purchasing an additional 1,724 shares during the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Digimarc in the 4th quarter valued at $215,000. 66.85% of the stock is currently owned by institutional investors.

About Digimarc

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.