Digimarc (NASDAQ:DMRC) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Digimarc Corporation (NASDAQ:DMRC) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $7.51 and traded as high as $8.36. Digimarc shares last traded at $7.88, with a volume of 185,172 shares changing hands.

Wall Street Analysts Forecast Growth

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

Digimarc Stock Up 2.6%

The stock has a fifty day moving average price of $10.28 and a two-hundred day moving average price of $7.51. The company has a market cap of $175.25 million, a price-to-earnings ratio of -6.20 and a beta of 2.18.

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 business had revenue of $7.58 million for the quarter, compared to the consensus estimate of $7.05 million.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Cubist Systematic Strategies LLC bought a new position in shares of Digimarc during the first quarter worth approximately $128,000. Jane Street Group LLC boosted its stake in shares of Digimarc by 915.0% in the first quarter. Jane Street Group LLC now owns 69,538 shares of the information technology services provider’s stock valued at $891,000 after buying an additional 62,687 shares during the period. Geode Capital Management LLC boosted its stake in shares of Digimarc by 1.4% in the second quarter. Geode Capital Management LLC now owns 371,835 shares of the information technology services provider’s stock valued at $4,913,000 after buying an additional 5,191 shares during the period. JPMorgan Chase & Co. grew its position in Digimarc by 17.8% during the second quarter. JPMorgan Chase & Co. now owns 106,375 shares of the information technology services provider’s stock worth $1,405,000 after buying an additional 16,106 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in Digimarc during the second quarter worth approximately $190,000. Institutional investors and hedge funds 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.