Digimarc (NASDAQ:DMRC) Trading 8.8% Higher

Digimarc Co. (NASDAQ:DMRC)’s stock price traded up 8.8% during mid-day trading on Thursday . The company traded as high as $26.70 and last traded at $26.27. 144,235 shares were traded during mid-day trading, an increase of 9% from the average session volume of 132,670 shares. The stock had previously closed at $24.15.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Craig Hallum lowered their price target on Digimarc from $35.00 to $28.00 and set a “hold” rating on the stock in a research note on Friday, May 3rd. Needham & Company LLC reissued a “buy” rating and set a $40.00 price objective on shares of Digimarc in a research note on Wednesday.

Digimarc Stock Performance

The business’s 50 day moving average price is $30.24 and its 200-day moving average price is $29.48. The firm has a market capitalization of $555.91 million, a PE ratio of -12.48 and a beta of 1.73.

Digimarc (NASDAQ:DMRC) last released its quarterly earnings results on Tuesday, August 13th. The information technology services provider reported ($0.23) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.04. The business had revenue of $10.38 million for the quarter. Digimarc had a negative net margin of 114.38% and a negative return on equity of 46.01%.

Hedge Funds Weigh In On Digimarc

Institutional investors have recently bought and sold shares of the company. West Branch Capital LLC acquired a new position in Digimarc in the 2nd quarter valued at about $62,000. nVerses Capital LLC purchased a new stake in Digimarc during the 2nd quarter worth about $62,000. SG Americas Securities LLC acquired a new stake in Digimarc in the 4th quarter valued at about $133,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Digimarc during the second quarter worth approximately $148,000. Finally, McCollum Christoferson Group LLC purchased a new position in Digimarc in the second quarter worth approximately $211,000. 66.85% of the stock is owned by institutional investors and hedge funds.

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.