BidaskClub upgraded shares of Digimarc (NASDAQ:DMRC) from a hold rating to a buy rating in a report published on Saturday morning, BidAskClub reports.

A number of other research analysts have also recently commented on the stock. Zacks Investment Research cut shares of Digimarc from a hold rating to a sell rating in a research note on Friday, January 3rd. Northland Securities restated a buy rating and set a $40.00 price target on shares of Digimarc in a research note on Monday, November 4th. Finally, Needham & Company LLC restated a hold rating on shares of Digimarc in a research note on Monday, November 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. Digimarc currently has an average rating of Hold and an average price target of $48.10.

Shares of DMRC opened at $34.62 on Friday. The stock has a market cap of $427.15 million, a price-to-earnings ratio of -12.10 and a beta of -0.02. Digimarc has a 12 month low of $17.90 and a 12 month high of $66.50. The company has a 50-day moving average price of $34.02 and a two-hundred day moving average price of $39.21.

Digimarc (NASDAQ:DMRC) last announced its quarterly earnings results on Wednesday, October 30th. The information technology services provider reported ($0.65) EPS for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.06. The firm had revenue of $5.83 million during the quarter, compared to analysts’ expectations of $5.80 million. Digimarc had a negative net margin of 140.51% and a negative return on equity of 57.32%. On average, analysts expect that Digimarc will post -2.81 earnings per share for the current fiscal year.

In other news, EVP Tony Rodriguez sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $33.00, for a total transaction of $33,000.00. Following the completion of the sale, the executive vice president now owns 30,341 shares of the company’s stock, valued at $1,001,253. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Bruce L. Davis sold 23,391 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $34.31, for a total transaction of $802,545.21. Following the sale, the chief executive officer now directly owns 46,231 shares of the company’s stock, valued at approximately $1,586,185.61. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,391 shares of company stock valued at $905,545. Company insiders own 6.38% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. California State Teachers Retirement System increased its holdings in shares of Digimarc by 3.8% during the third quarter. California State Teachers Retirement System now owns 18,265 shares of the information technology services provider’s stock worth $714,000 after buying an additional 661 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Digimarc by 1,710.0% in the third quarter. Tower Research Capital LLC TRC now owns 1,810 shares of the information technology services provider’s stock valued at $71,000 after purchasing an additional 1,710 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Digimarc by 29.5% in the third quarter. SG Americas Securities LLC now owns 18,438 shares of the information technology services provider’s stock valued at $721,000 after purchasing an additional 4,199 shares in the last quarter. California Public Employees Retirement System increased its holdings in shares of Digimarc by 49.6% in the third quarter. California Public Employees Retirement System now owns 12,713 shares of the information technology services provider’s stock valued at $497,000 after purchasing an additional 4,213 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its holdings in shares of Digimarc by 11.1% in the third quarter. Handelsbanken Fonder AB now owns 100,000 shares of the information technology services provider’s stock valued at $3,909,000 after purchasing an additional 10,000 shares in the last quarter. 64.30% of the stock is owned by institutional investors.

Digimarc Company Profile

Digimarc Corporation provides media identification and management solutions to government and commercial customers in the United States and internationally. It 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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Analyst Recommendations for Digimarc (NASDAQ:DMRC)

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