ValuEngine upgraded shares of Digimarc (NASDAQ:DMRC) from a hold rating to a buy rating in a research report report published on Friday morning.

A number of other equities analysts have also weighed in on the company. Needham & Company LLC restated a buy rating and issued a $34.00 target price (down from $35.00) on shares of Digimarc in a research note on Friday, August 3rd. Zacks Investment Research lowered Digimarc from a buy rating to a hold rating in a research report on Wednesday, August 8th. National Securities reiterated a buy rating and set a $43.00 price objective on shares of Digimarc in a research report on Monday, August 6th. Finally, BidaskClub upgraded Digimarc from a hold rating to a buy rating in a research report on Tuesday, August 14th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Digimarc presently has an average rating of Buy and a consensus price target of $40.60.

NASDAQ DMRC traded up $1.10 during trading on Friday, reaching $31.30. The company’s stock had a trading volume of 65,241 shares, compared to its average volume of 47,365. The firm has a market capitalization of $358.79 million, a P/E ratio of -12.83 and a beta of -1.18. Digimarc has a one year low of $22.85 and a one year high of $39.95.

Digimarc (NASDAQ:DMRC) last announced its earnings results on Wednesday, August 1st. The information technology services provider reported ($0.71) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.10. The business had revenue of $5.44 million for the quarter, compared to analyst estimates of $5.28 million. Digimarc had a negative return on equity of 37.68% and a negative net margin of 116.98%. sell-side analysts expect that Digimarc will post -2.76 EPS for the current fiscal year.

In other news, CEO Bruce L. Davis sold 9,938 shares of the stock in a transaction dated Friday, June 15th. The stock was sold at an average price of $32.51, for a total transaction of $323,084.38. Following the transaction, the chief executive officer now directly owns 72,240 shares in the company, valued at approximately $2,348,522.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Bruce L. Davis sold 5,000 shares of the stock in a transaction dated Monday, July 2nd. The shares were sold at an average price of $27.00, for a total value of $135,000.00. Following the transaction, the chief executive officer now owns 77,240 shares in the company, valued at $2,085,480. The disclosure for this sale can be found here. Insiders have sold a total of 15,393 shares of company stock worth $471,225 over the last quarter. Corporate insiders own 7.50% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Marathon Capital Management boosted its holdings in Digimarc by 2.3% during the 2nd quarter. Marathon Capital Management now owns 76,275 shares of the information technology services provider’s stock valued at $2,044,000 after acquiring an additional 1,750 shares during the period. Berson & Corrado Investment Advisors LLC boosted its holdings in Digimarc by 22.6% during the 2nd quarter. Berson & Corrado Investment Advisors LLC now owns 12,375 shares of the information technology services provider’s stock valued at $331,000 after acquiring an additional 2,279 shares during the period. Schwab Charles Investment Management Inc. boosted its holdings in Digimarc by 13.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 23,442 shares of the information technology services provider’s stock valued at $629,000 after acquiring an additional 2,700 shares during the period. Wasatch Advisors Inc. boosted its holdings in Digimarc by 9.5% during the 2nd quarter. Wasatch Advisors Inc. now owns 85,820 shares of the information technology services provider’s stock valued at $2,300,000 after acquiring an additional 7,476 shares during the period. Finally, State Board of Administration of Florida Retirement System purchased a new stake in Digimarc during the 2nd quarter valued at about $203,000. Institutional investors own 55.56% of the company’s stock.

Digimarc Company Profile

Digimarc Corporation provides media identification and management solutions to commercial entities and government customers in the United States and internationally. The company offers Digimarc Intuitive Computing Platform, a comprehensive set of technologies for identifying, discovering, and interacting with digitally-enhanced media, which includes Digimarc Barcode, a method for imperceptibly enhancing packaging, print, images, thermal labels, audio, and other objects with data that is detected by enabled devices, such as smart phones, computers, barcode scanners, and machine-vision equipment.

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