Digimarc (NASDAQ:DMRC) Stock Passes Above 200-Day Moving Average – Should You Sell?

Shares of Digimarc Co. (NASDAQ:DMRC) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $28.19 and traded as high as $32.38. Digimarc shares last traded at $32.18, with a volume of 68,708 shares.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on DMRC. Needham & Company LLC reiterated a “buy” rating and issued a $40.00 price target on shares of Digimarc in a report on Wednesday, August 14th. StockNews.com upgraded Digimarc to a “sell” rating in a report on Tuesday, September 17th.

Digimarc Stock Performance

The firm has a market capitalization of $689.33 million, a P/E ratio of -16.25 and a beta of 1.68. The stock has a fifty day moving average price of $28.85 and a two-hundred day moving average price of $28.19.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kimelman & Baird LLC acquired a new position in Digimarc during the 2nd quarter worth $18,249,000. Vanguard Group Inc. boosted its position in Digimarc by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 1,169,976 shares of the information technology services provider’s stock worth $31,800,000 after acquiring an additional 19,460 shares during the period. Silverberg Bernstein Capital Management LLC boosted its position in Digimarc by 4.0% during the 3rd quarter. Silverberg Bernstein Capital Management LLC now owns 459,933 shares of the information technology services provider’s stock worth $12,363,000 after acquiring an additional 17,880 shares during the period. Cubist Systematic Strategies LLC acquired a new position in Digimarc during the 2nd quarter worth $439,000. Finally, Squarepoint Ops LLC acquired a new position in Digimarc during the 2nd quarter worth $747,000. Institutional investors and hedge funds 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.