Digimarc Corp. (DMRC) Downgraded by Zacks Investment Research
Digimarc Corp. (NASDAQ:DMRC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday.
According to Zacks, “DIGIMARC CORPORATION based in Beaverton, Oregon, is a leading innovator and technology provider, enabling businesses and governments worldwide to enrich everyday living by giving persistent digital identities to all forms of media and objects. The company’s technology enables a wide range of solutions for enhancing traffic safety and national security, deterring fraud, counterfeiting and piracy, and enabling new digital media distribution and monetization models that provide consumers with more choice and access to content when, where and how they want it. Digimarc licenses its intellectual property to business partners across a range of industries, delivers solutions for protecting and managing digital images, and offers professional development services to bring strategic initiatives to market. “
A number of other analysts also recently issued reports on DMRC. B. Riley reiterated a “buy” rating and set a $44.00 price target on shares of Digimarc Corp. in a research report on Monday, July 25th. Needham & Company LLC assumed coverage on Digimarc Corp. in a research report on Friday, September 9th. They set a “buy” rating and a $46.00 price target for the company.
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Digimarc Corp. (NASDAQ:DMRC) traded down 2.83% during trading on Tuesday, hitting $33.29. The company’s stock had a trading volume of 50,687 shares. The firm’s market cap is $286.76 million. The firm has a 50 day moving average of $35.97 and a 200 day moving average of $32.38. Digimarc Corp. has a 12 month low of $21.80 and a 12 month high of $44.94.
Digimarc Corp. (NASDAQ:DMRC) last issued its quarterly earnings results on Tuesday, July 26th. The company reported ($0.62) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.63) by $0.01. The firm earned $5.46 million during the quarter, compared to the consensus estimate of $5.62 million. Digimarc Corp. had a negative return on equity of 41.64% and a negative net margin of 95.57%. The company’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same quarter last year, the company posted ($0.50) EPS. Equities research analysts predict that Digimarc Corp. will post ($2.39) earnings per share for the current year.
Several institutional investors have recently made changes to their positions in the stock. American International Group Inc. boosted its position in shares of Digimarc Corp. by 7.4% in the second quarter. American International Group Inc. now owns 4,813 shares of the company’s stock worth $154,000 after buying an additional 333 shares in the last quarter. Nationwide Fund Advisors boosted its position in shares of Digimarc Corp. by 5.1% in the second quarter. Nationwide Fund Advisors now owns 5,343 shares of the company’s stock worth $171,000 after buying an additional 261 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Digimarc Corp. by 22.9% in the second quarter. Rhumbline Advisers now owns 9,650 shares of the company’s stock worth $308,000 after buying an additional 1,797 shares in the last quarter. Teachers Advisors Inc. boosted its position in shares of Digimarc Corp. by 9.6% in the second quarter. Teachers Advisors Inc. now owns 12,134 shares of the company’s stock worth $388,000 after buying an additional 1,059 shares in the last quarter. Finally, QCI Asset Management Inc. NY boosted its position in shares of Digimarc Corp. by 6.5% in the second quarter. QCI Asset Management Inc. NY now owns 16,500 shares of the company’s stock worth $527,000 after buying an additional 1,000 shares in the last quarter. 45.63% of the stock is currently owned by institutional investors.
Digimarc Corp. Company Profile
Digimarc Corporation (Digimarc) enables governments and enterprises to give digital identities to media and objects that computers can sense and recognize. The Company’s Digimarc Discover and Digimarc Barcode Intuitive Computing Platform are designed to optimize the identification of consumer brand impressions, facilitating mobile-centric shopping.
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