Digimarc Corp. (DMRC) Lowered to Sell at Zacks Investment Research
Digimarc Corp. (NASDAQ:DMRC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors 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. “
Other analysts have also recently issued reports about the company. Needham & Company LLC started coverage on Digimarc Corp. in a research report on Friday, September 9th. They issued a “buy” rating and a $46.00 price objective for the company. B. Riley reaffirmed a “buy” rating and issued a $44.00 price objective on shares of Digimarc Corp. in a research report on Saturday, August 20th.
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Shares of Digimarc Corp. (NASDAQ:DMRC) traded down 2.83% during mid-day trading on Tuesday, reaching $33.29. The company had a trading volume of 50,687 shares. Digimarc Corp. has a 12-month low of $21.80 and a 12-month high of $44.94. The firm’s 50 day moving average is $35.97 and its 200-day moving average is $32.38. The stock’s market capitalization is $286.76 million.
Digimarc Corp. (NASDAQ:DMRC) last released its quarterly earnings data 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. Digimarc Corp. had a negative return on equity of 41.64% and a negative net margin of 95.57%. The company earned $5.46 million during the quarter, compared to analysts’ expectations of $5.62 million. During the same period last year, the firm posted ($0.50) earnings per share. The business’s revenue was down 5.9% on a year-over-year basis. On average, analysts expect that Digimarc Corp. will post ($2.39) earnings per share for the current fiscal year.
Institutional investors have recently made changes to their positions in the company. American International Group Inc. raised 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 during the period. Nationwide Fund Advisors raised 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 during the period. Rhumbline Advisers raised 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 during the period. Teachers Advisors Inc. raised 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 during the period. Finally, QCI Asset Management Inc. NY raised 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 during the period. Institutional investors own 45.63% of the company’s stock.
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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