Digimarc (NASDAQ:DMRC) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Digimarc Corporation (NASDAQ:DMRC) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $7.01 and traded as high as $15.24. Digimarc shares last traded at $15.02, with a volume of 346,788 shares.

Analyst Upgrades and Downgrades

Several research analysts have commented on DMRC shares. Needham & Company LLC boosted their price target on shares of Digimarc from $10.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Wall Street Zen upgraded shares of Digimarc from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Digimarc in a report on Monday, April 20th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Digimarc presently has an average rating of “Hold” and an average price target of $15.00.

Digimarc Trading Up 11.8%

The firm’s fifty day moving average price is $7.81 and its 200-day moving average price is $7.01. The firm has a market cap of $334.04 million, a price-to-earnings ratio of -11.83 and a beta of 1.88.

Digimarc (NASDAQ:DMRC) last released its quarterly earnings results on Tuesday, May 12th. The information technology services provider reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.36) by $0.29. Digimarc had a negative net margin of 85.75% and a negative return on equity of 21.81%. The firm had revenue of $7.58 million during the quarter, compared to the consensus estimate of $7.05 million.

Institutional Trading of Digimarc

Institutional investors and hedge funds have recently bought and sold shares of the business. IMC Chicago LLC purchased a new stake in Digimarc in the 1st quarter valued at $82,000. Bryant Woods Investment Advisors LLC raised its position in Digimarc by 34.2% during the 1st quarter. Bryant Woods Investment Advisors LLC now owns 95,904 shares of the information technology services provider’s stock worth $471,000 after buying an additional 24,438 shares during the last quarter. Private Advisor Group LLC raised its position in Digimarc by 12.8% during the 1st quarter. Private Advisor Group LLC now owns 502,001 shares of the information technology services provider’s stock worth $2,465,000 after buying an additional 56,829 shares during the last quarter. Janney Montgomery Scott LLC raised its position in Digimarc by 296.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 55,034 shares of the information technology services provider’s stock worth $270,000 after buying an additional 41,168 shares during the last quarter. Finally, Silverberg Bernstein Capital Management LLC raised its position in Digimarc by 7.6% during the 1st quarter. Silverberg Bernstein Capital Management LLC now owns 779,255 shares of the information technology services provider’s stock worth $3,826,000 after buying an additional 55,110 shares during the last quarter. Hedge funds and other institutional investors own 66.85% of the company’s stock.

Digimarc Company Profile

Digimarc Corporation is a technology company specializing in digital identification and authentication solutions. Its core offering centers on embedding imperceptible digital watermarks into images, audio, video and packaging materials. These watermarks carry unique identifiers that enable secure tracking, brand protection and content provenance across print and digital channels.

The company’s product suite includes software development kits and cloud-based services that allow enterprises to integrate digital watermarking into their existing workflows.