Digimarc (NASDAQ:DMRC) Stock Rating Lowered by Wall Street Zen

Digimarc (NASDAQ:DMRC) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Sunday, Wall Street Zen reports.

Other equities analysts also recently issued reports about the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $15.00 price target on shares of Digimarc in a research note on Friday, August 14th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Digimarc in a report on Thursday, October 15th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Digimarc presently has an average rating of “Hold” and an average target price of $15.00.

Digimarc Stock Up 6.0%

DMRC stock opened at $8.18 on Friday. The company has a 50 day moving average of $6.38 and a two-hundred day moving average of $7.12. The company has a market cap of $183.31 million, a price-to-earnings ratio of -5.72 and a beta of 2.18. Digimarc has a 12-month low of $4.07 and a 12-month high of $17.47.

Institutional Investors Weigh In On Digimarc

Several large investors have recently made changes to their positions in DMRC. Bank of New York Mellon Corp bought a new position in Digimarc during the second quarter valued at approximately $1,930,000. Quantinno Capital Management LP lifted its stake in Digimarc by 179.6% in the first quarter. Quantinno Capital Management LP now owns 293,249 shares of the information technology services provider’s stock valued at $1,440,000 after acquiring an additional 188,361 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in Digimarc in the first quarter valued at approximately $820,000. BlackRock Inc. bought a new stake in Digimarc in the second quarter worth approximately $8,747,000. Finally, Kimelman & Baird LLC bought a new stake in Digimarc in the second quarter worth approximately $8,985,000. Institutional investors own 66.85% of the company’s stock.

About Digimarc

Digimarc Corporation (NASDAQ: DMRC) develops digital watermarking and product identification technologies. Its platform embeds imperceptible, machine-readable identifiers into images, audio, video, printed materials and product packaging, enabling businesses and devices to recognize, authenticate and track physical and digital objects.

The company’s solutions support applications including brand protection, product authentication, supply-chain visibility, media management, content monetization and recycling.