Digimarc (NASDAQ:DMRC) Stock Price Down 3.2%

Shares of Digimarc Co. (NASDAQ:DMRC) dropped 3.2% on Tuesday . The company traded as low as $28.29 and last traded at $28.29. Approximately 29,245 shares traded hands during trading, a decline of 77% from the average daily volume of 126,904 shares. The stock had previously closed at $29.23.

Analyst Upgrades and Downgrades

DMRC has been the subject of a number of recent research reports. StockNews.com upgraded Digimarc to a “sell” rating in a research report on Tuesday. Needham & Company LLC restated a “buy” rating and set a $40.00 target price on shares of Digimarc in a research report on Wednesday, August 14th.

Digimarc Price Performance

The firm has a 50-day moving average price of $29.61 and a two-hundred day moving average price of $27.70. The company has a market capitalization of $609.77 million, a price-to-earnings ratio of -13.70 and a beta of 1.70.

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

Institutional Trading of Digimarc

Several institutional investors and hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD raised its stake 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 buying an additional 495 shares during the period. Rhumbline Advisers increased its stake in shares of Digimarc by 3.3% during the second 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 period. BNP Paribas Financial Markets increased its stake in shares of Digimarc by 10.4% during the first 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 period. West Branch Capital LLC bought a new position in shares of Digimarc during the second quarter worth approximately $62,000. Finally, nVerses Capital LLC bought a new position in shares of Digimarc during the second quarter worth approximately $62,000. Institutional investors 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.