Shares of Digimarc Corp. (NASDAQ:DMRC) dropped 3.2% during trading on Monday . The stock traded as low as $33.72 and last traded at $33.93, with a volume of 56,761 shares. The stock had previously closed at $35.06.

DMRC has been the subject of several analyst reports. Craig Hallum initiated coverage on Digimarc Corp. in a research note on Friday, June 17th. They issued a “buy” rating and a $48.00 price objective for the company. Zacks Investment Research downgraded Digimarc Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, April 26th. Finally, B. Riley reissued a “buy” rating and issued a $44.00 price objective on shares of Digimarc Corp. in a research note on Friday, April 22nd.

The stock’s 50-day moving average is $30.05 and its 200-day moving average is $30.55. The firm’s market capitalization is $290.17 million.

Digimarc Corp. (NASDAQ:DMRC) last issued its quarterly earnings data on Wednesday, April 27th. The company reported ($0.64) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.64). The business had revenue of $5.58 million for the quarter, compared to the consensus estimate of $5.20 million. The company’s revenue was down 6.7% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.52) EPS. On average, equities research analysts anticipate that Digimarc Corp. will post ($2.42) EPS for the current year.

A hedge fund recently raised its stake in Digimarc Corp. stock. Morgan Stanley raised its position in shares of Digimarc Corp. (NASDAQ:DMRC) by 72.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 70,161 shares of the company’s stock after buying an additional 29,585 shares during the period. Morgan Stanley owned about 0.83% of Digimarc Corp. worth $2,561,000 as of its most recent filing with the SEC.

Digimarc Corporation (Digimarc) enables governments and enterprises to give digital identities to media and objects that computers can sense and recognize. The Company has a computing platform that is intended to optimize the identification of consumer brand impressions, facilitating modern mobile-centric shopping.

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