Digimarc (NASDAQ:DMRC) Trading 4.9% Higher – Time to Buy?

Shares of Digimarc Co. (NASDAQ:DMRC) rose 4.9% on Monday . The company traded as high as $31.47 and last traded at $31.47. Approximately 66,700 shares traded hands during trading, a decline of 45% from the average daily volume of 121,874 shares. The stock had previously closed at $30.00.

Analyst Ratings Changes

DMRC has been the topic of a number of research analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $40.00 target price on shares of Digimarc in a report on Wednesday, August 14th. StockNews.com upgraded Digimarc to a “sell” rating in a report on Tuesday, September 17th.

Digimarc Trading Down 3.1 %

The firm has a 50 day moving average of $28.05 and a two-hundred day moving average of $27.73. The company has a market cap of $668.55 million, a PE ratio of -15.35 and a beta of 1.70.

Digimarc (NASDAQ:DMRC) last issued its earnings results on Tuesday, August 13th. The information technology services provider reported ($0.23) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.04. Digimarc had a negative return on equity of 41.60% and a negative net margin of 105.98%. The business had revenue of $10.38 million for the quarter.

Institutional Trading of Digimarc

Several institutional investors have recently added to or reduced their stakes in DMRC. Price T Rowe Associates Inc. MD lifted its holdings in shares of Digimarc by 3.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,185 shares of the information technology services provider’s stock valued at $413,000 after buying an additional 495 shares during the period. Rhumbline Advisers lifted its holdings in shares of Digimarc by 3.3% during the 2nd quarter. Rhumbline Advisers now owns 21,683 shares of the information technology services provider’s stock valued at $672,000 after buying an additional 693 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of Digimarc by 10.4% during the 1st quarter. BNP Paribas Financial Markets now owns 12,770 shares of the information technology services provider’s stock valued at $347,000 after buying an additional 1,207 shares during the period. West Branch Capital LLC bought a new position in shares of Digimarc during the 2nd quarter valued at $62,000. Finally, nVerses Capital LLC bought a new position in shares of Digimarc during the 2nd quarter valued at $62,000. 66.85% of the stock is currently owned by hedge funds and other institutional investors.

About Digimarc

Digimarc Corporation, together with its subsidiaries, provides automatic identification solutions to commercial and government customers in the United States and internationally. The company offers Digimarc Validate protects, a cloud-based record of product authentication information; Digimarc Engage, an interactive communications channel connecting brands and consumers; and Digimarc Recycle.