Digimarc (NASDAQ:DMRC) Shares Gap Down – Here’s What Happened

Digimarc Co. (NASDAQ:DMRC) gapped down prior to trading on Friday . The stock had previously closed at $30.12, but opened at $28.90. Digimarc shares last traded at $28.50, with a volume of 90,529 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on DMRC shares. Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 price target on shares of Digimarc in a research report on Friday. StockNews.com raised Digimarc to a “sell” rating in a research note on Tuesday, September 17th.

Digimarc Trading Down 3.2 %

The stock has a market cap of $624.82 million, a price-to-earnings ratio of -14.15 and a beta of 1.68. The firm has a fifty day simple moving average of $29.67 and a 200-day simple moving average of $28.73.

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in DMRC. Verition Fund Management LLC bought a new position in Digimarc in the 3rd quarter valued at about $216,000. Woodson Capital Management LP grew its holdings in shares of Digimarc by 18.5% during the third quarter. Woodson Capital Management LP now owns 455,664 shares of the information technology services provider’s stock worth $12,248,000 after purchasing an additional 71,126 shares during the last quarter. PEAK6 Investments LLC bought a new position in shares of Digimarc during the third quarter valued at $292,000. Beaconlight Capital LLC increased its stake in shares of Digimarc by 3.4% in the third quarter. Beaconlight Capital LLC now owns 801,084 shares of the information technology services provider’s stock valued at $21,533,000 after buying an additional 26,425 shares during the period. Finally, BNP Paribas Financial Markets raised its holdings in Digimarc by 28.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 7,800 shares of the information technology services provider’s stock worth $210,000 after purchasing an additional 1,724 shares during the last quarter. Institutional investors and hedge funds own 66.85% of the company’s stock.

Digimarc Company Profile

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.