Digimarc (NASDAQ:DMRC) Shares Gap Up – Should You Buy?

Digimarc Co. (NASDAQ:DMRC) shares gapped up prior to trading on Monday . The stock had previously closed at $27.46, but opened at $29.81. Digimarc shares last traded at $26.05, with a volume of 107,951 shares changing hands.

Analysts Set New Price Targets

Separately, Needham & Company LLC restated a “buy” rating and issued a $40.00 target price on shares of Digimarc in a research note on Friday, November 15th.

Digimarc Price Performance

The stock has a 50 day moving average of $38.11 and a two-hundred day moving average of $32.89. The stock has a market capitalization of $577.27 million, a PE ratio of -13.81 and a beta of 1.66.

Institutional Trading of Digimarc

Hedge funds and other institutional investors have recently made changes to their positions in the stock. KLP Kapitalforvaltning AS acquired a new stake in shares of Digimarc in the 4th quarter worth approximately $105,000. SG Americas Securities LLC acquired a new stake in Digimarc in the 3rd quarter valued at about $106,000. Tower Research Capital LLC TRC increased its holdings in Digimarc by 469.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,951 shares of the information technology services provider’s stock valued at $111,000 after acquiring an additional 2,433 shares in the last quarter. FMR LLC raised its position in Digimarc by 201.6% during the third quarter. FMR LLC now owns 4,983 shares of the information technology services provider’s stock worth $134,000 after acquiring an additional 3,331 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Digimarc by 28.4% in the third quarter. BNP Paribas Financial Markets now owns 7,800 shares of the information technology services provider’s stock valued at $210,000 after purchasing an additional 1,724 shares in 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.