Digimarc (NASDAQ:DMRC) Stock Price Crosses Below 200-Day Moving Average – Time to Sell?

Digimarc Corporation (NASDAQ:DMRC) crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $7.48 and traded as low as $6.41. Digimarc shares last traded at $6.61, with a volume of 253,977 shares changing hands.

Analysts Set New Price Targets

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

Digimarc Price Performance

The firm has a market capitalization of $147.01 million, a PE ratio of -5.20 and a beta of 2.27. The firm has a fifty day moving average price of $10.32 and a 200 day moving average price of $7.48.

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

Institutional Investors Weigh In On Digimarc

A number of large investors have recently made changes to their positions in the company. Bank of America Corp DE lifted its position in shares of Digimarc by 13.4% in the 1st quarter. Bank of America Corp DE now owns 19,700 shares of the information technology services provider’s stock valued at $97,000 after acquiring an additional 2,325 shares in the last quarter. Quantinno Capital Management LP grew its position in Digimarc by 179.6% during the 1st quarter. Quantinno Capital Management LP now owns 293,249 shares of the information technology services provider’s stock worth $1,440,000 after purchasing an additional 188,361 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in Digimarc during the 1st quarter valued at $820,000. IMC Chicago LLC purchased a new stake in shares of Digimarc in the first quarter valued at $82,000. Finally, Bryant Woods Investment Advisors LLC lifted its holdings in shares of Digimarc by 34.2% in the first quarter. Bryant Woods Investment Advisors LLC now owns 95,904 shares of the information technology services provider’s stock valued at $471,000 after purchasing an additional 24,438 shares in the last quarter. Institutional investors and hedge funds own 66.85% of the company’s stock.

About Digimarc

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.