Digimarc (NASDAQ:DMRC) Upgraded by StockNews.com to Sell

StockNews.com upgraded shares of Digimarc (NASDAQ:DMRC) to a sell rating in a research report sent to investors on Tuesday morning.

Separately, Needham & Company LLC restated a buy rating and set a $40.00 target price on shares of Digimarc in a research note on Wednesday, August 14th.

Digimarc Stock Down 2.7 %

NASDAQ DMRC opened at $28.45 on Tuesday. Digimarc has a fifty-two week low of $21.00 and a fifty-two week high of $43.43. The business has a 50 day moving average price of $29.71 and a two-hundred day moving average price of $27.75. The stock has a market cap of $608.06 million, a PE ratio of -13.68 and a beta of 1.70.

Digimarc (NASDAQ:DMRC) last announced its earnings results on Tuesday, August 13th. The information technology services provider reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.04. The business had revenue of $10.38 million during the quarter. Digimarc had a negative net margin of 105.98% and a negative return on equity of 41.60%.

Institutional Trading of Digimarc

A number of hedge funds have recently made changes to their positions in DMRC. Price T Rowe Associates Inc. MD raised its holdings in Digimarc by 3.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 15,185 shares of the information technology services provider’s stock valued at $413,000 after acquiring an additional 495 shares in the last quarter. Rhumbline Advisers increased its position in shares of Digimarc by 3.3% in the 2nd quarter. Rhumbline Advisers now owns 21,683 shares of the information technology services provider’s stock worth $672,000 after purchasing an additional 693 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of Digimarc by 10.4% in the 1st quarter. BNP Paribas Financial Markets now owns 12,770 shares of the information technology services provider’s stock worth $347,000 after purchasing an additional 1,207 shares during the last quarter. West Branch Capital LLC acquired a new stake in shares of Digimarc in the 2nd quarter valued at about $62,000. Finally, nVerses Capital LLC bought a new position in shares of Digimarc during the second quarter worth about $62,000. Institutional investors and hedge funds own 66.85% of the company’s stock.

About Digimarc

Digimarc Corporation, together with its subsidiaries, provides automatic identification solutions to commercial and government customers in the United States and internationally. The company offers Digimarc Validate protects, a cloud-based record of product authentication information; Digimarc Engage, an interactive communications channel connecting brands and consumers; and Digimarc Recycle.