Digimarc (NASDAQ:DMRC) Raised to Hold at Wall Street Zen

Digimarc (NASDAQ:DMRC) was upgraded by Wall Street Zen to a “hold” rating in a report released on Saturday.

Other research analysts have also recently issued reports about the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Digimarc in a report on Monday, April 20th. Needham & Company LLC boosted their target price on Digimarc from $10.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Digimarc presently has a consensus rating of “Hold” and a consensus target price of $15.00.

Digimarc Stock Down 1.8%

DMRC stock opened at $5.99 on Friday. The company has a 50-day simple moving average of $10.13 and a 200 day simple moving average of $7.43. The company has a market capitalization of $134.24 million, a P/E ratio of -4.72 and a beta of 2.27. Digimarc has a fifty-two week low of $4.07 and a fifty-two week high of $17.47.

Digimarc (NASDAQ:DMRC) last released its 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 for the quarter, compared to analysts’ expectations of $7.05 million.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of DMRC. Bank of America Corp DE raised its holdings 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 worth $97,000 after purchasing an additional 2,325 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in Digimarc by 25.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 13,866 shares of the information technology services provider’s stock worth $91,000 after buying an additional 2,800 shares in the last quarter. Occudo Quantitative Strategies LP boosted its holdings in Digimarc by 18.4% during the third quarter. Occudo Quantitative Strategies LP now owns 24,977 shares of the information technology services provider’s stock worth $244,000 after buying an additional 3,880 shares in the last quarter. Turim 21 Investimentos Ltda. boosted its holdings in Digimarc by 4.1% during the third quarter. Turim 21 Investimentos Ltda. now owns 98,475 shares of the information technology services provider’s stock worth $962,000 after buying an additional 3,922 shares in the last quarter. Finally, Private Advisor Group LLC grew its position in Digimarc by 1.1% in the third quarter. Private Advisor Group LLC now owns 466,358 shares of the information technology services provider’s stock worth $4,556,000 after buying an additional 4,890 shares during the last quarter. 66.85% of the stock is owned by institutional investors and hedge funds.

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.