Digimarc (NASDAQ:DMRC) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Digimarc (NASDAQ:DMRC) to a sell rating in a research report released on Tuesday.

Separately, Needham & Company LLC reiterated a buy rating and set a $40.00 price objective on shares of Digimarc in a research note on Wednesday, August 14th.

Digimarc Stock Up 2.2 %

NASDAQ DMRC opened at $28.53 on Tuesday. Digimarc has a twelve month low of $21.00 and a twelve month high of $43.43. The stock has a market cap of $609.77 million, a P/E ratio of -13.72 and a beta of 1.70. The company’s 50-day simple moving average is $29.61 and its 200 day simple moving average is $27.70.

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, beating the consensus estimate of ($0.27) by $0.04. The company had revenue of $10.38 million for the quarter. Digimarc had a negative return on equity of 41.60% and a negative net margin of 105.98%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of DMRC. Vanguard Group Inc. increased its holdings in Digimarc by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 1,169,976 shares of the information technology services provider’s stock valued at $31,800,000 after purchasing an additional 19,460 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Digimarc by 1,834.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 547,966 shares of the information technology services provider’s stock valued at $19,793,000 after buying an additional 519,643 shares during the last quarter. Private Advisor Group LLC lifted its position in Digimarc by 4.4% during the 2nd quarter. Private Advisor Group LLC now owns 351,908 shares of the information technology services provider’s stock worth $10,913,000 after buying an additional 14,884 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in Digimarc by 9.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 63,728 shares of the information technology services provider’s stock worth $1,732,000 after acquiring an additional 5,483 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Digimarc by 3.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 239,946 shares of the information technology services provider’s stock valued at $7,441,000 after acquiring an additional 7,356 shares in the last quarter. 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.