Digimarc (NASDAQ:DMRC) Shares Pass Above 200-Day Moving Average – Here’s What Happened

Digimarc Corporation (NASDAQ:DMRC) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $7.30 and traded as high as $13.98. Digimarc shares last traded at $13.63, with a volume of 293,462 shares changing hands.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Wall Street Zen upgraded Digimarc from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Needham & Company LLC lifted their price objective on Digimarc from $10.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Digimarc in a research note on Monday, April 20th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $15.00.

Digimarc Stock Down 5.5%

The company has a market cap of $303.13 million, a price-to-earnings ratio of -10.73 and a beta of 2.19. The firm has a 50-day simple moving average of $8.98 and a 200 day simple moving average of $7.30.

Digimarc (NASDAQ:DMRC) last released its quarterly earnings results on Tuesday, May 12th. The information technology services provider reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.36) by $0.29. The company had revenue of $7.58 million for the quarter, compared to analyst estimates of $7.05 million. Digimarc had a negative return on equity of 21.81% and a negative net margin of 85.75%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of DMRC. Cubist Systematic Strategies LLC purchased a new position in shares of Digimarc in the 1st quarter valued at approximately $128,000. Jane Street Group LLC grew its stake in shares of Digimarc by 915.0% in the 1st quarter. Jane Street Group LLC now owns 69,538 shares of the information technology services provider’s stock valued at $891,000 after purchasing an additional 62,687 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Digimarc by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 371,835 shares of the information technology services provider’s stock valued at $4,913,000 after purchasing an additional 5,191 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Digimarc by 17.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 106,375 shares of the information technology services provider’s stock valued at $1,405,000 after purchasing an additional 16,106 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of Digimarc in the 2nd quarter valued at approximately $190,000. 66.85% of the stock is currently owned by hedge funds and other institutional investors.

About Digimarc

Digimarc Corporation is a technology company specializing in digital identification and authentication solutions. Its core offering centers on embedding imperceptible digital watermarks into images, audio, video and packaging materials. These watermarks carry unique identifiers that enable secure tracking, brand protection and content provenance across print and digital channels.

The company’s product suite includes software development kits and cloud-based services that allow enterprises to integrate digital watermarking into their existing workflows.