Digimarc (NASDAQ:DMRC) Shares Pass Above 200-Day Moving Average – Here’s What Happened

Digimarc Corporation (NASDAQ:DMRC)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $7.30 and traded as high as $13.98. Digimarc shares last traded at $13.63, with a volume of 293,462 shares changing hands.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on DMRC. Wall Street Zen upgraded Digimarc from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Digimarc in a research report on Monday, April 20th. Finally, Needham & Company LLC boosted their price target on Digimarc from $10.00 to $15.00 and gave the stock a “buy” rating in a research report 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, Digimarc presently has a consensus rating of “Hold” and an average price target of $15.00.

Digimarc Trading Down 5.5%

The firm has a market capitalization of $303.13 million, a PE ratio of -10.73 and a beta of 2.19. The business has a fifty day moving average price of $8.98 and a two-hundred day moving average price of $7.30.

Digimarc (NASDAQ:DMRC) last released 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. The business had revenue of $7.58 million during the quarter, compared to analysts’ expectations of $7.05 million. Digimarc had a negative return on equity of 21.81% and a negative net margin of 85.75%.

Hedge Funds Weigh In On Digimarc

Several hedge funds have recently bought and sold shares of the company. Invesco Ltd. acquired a new stake in Digimarc in the 4th quarter valued at about $78,000. IMC Chicago LLC purchased a new position in shares of Digimarc in the 1st quarter valued at about $82,000. Janney Montgomery Scott LLC boosted its stake in shares of Digimarc by 25.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 13,866 shares of the information technology services provider’s stock valued at $91,000 after buying an additional 2,800 shares during the period. Verition Fund Management LLC purchased a new position in shares of Digimarc in the 4th quarter valued at about $96,000. Finally, Bank of America Corp DE boosted its stake 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 buying an additional 2,325 shares during the period. 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.