Digimarc (NASDAQ:DMRC) Shares Cross Above 200 Day Moving Average – What’s Next?

Shares of Digimarc Co. (NASDAQ:DMRC) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $31.89 and traded as high as $41.93. Digimarc shares last traded at $40.07, with a volume of 204,836 shares traded.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. StockNews.com upgraded shares of Digimarc to a “sell” rating in a research note on Tuesday, September 17th. Needham & Company LLC reiterated a “buy” rating and set a $40.00 price objective on shares of Digimarc in a research report on Friday, November 15th.

Digimarc Price Performance

The company has a market capitalization of $858.30 million, a P/E ratio of -20.55 and a beta of 1.70. The firm’s 50-day moving average is $36.00 and its 200-day moving average is $31.89.

Institutional Investors Weigh In On Digimarc

Hedge funds have recently modified their holdings of the business. SG Americas Securities LLC bought a new position in Digimarc in the 3rd quarter worth $106,000. FMR LLC increased its position in Digimarc by 201.6% in the third quarter. FMR LLC now owns 4,983 shares of the information technology services provider’s stock worth $134,000 after buying an additional 3,331 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of Digimarc by 28.4% in the third quarter. BNP Paribas Financial Markets now owns 7,800 shares of the information technology services provider’s stock worth $210,000 after buying an additional 1,724 shares during the period. Verition Fund Management LLC purchased a new position in shares of Digimarc during the 3rd quarter valued at about $216,000. Finally, JPMorgan Chase & Co. grew its stake in shares of Digimarc by 41.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 9,187 shares of the information technology services provider’s stock valued at $247,000 after acquiring an additional 2,695 shares during the period. Institutional investors own 66.85% of the company’s stock.

Digimarc Company Profile

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.