Digimarc (NASDAQ:DMRC) Share Price Crosses Above 200 Day Moving Average – Here’s Why

Digimarc Corporation (NASDAQ:DMRC)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $7.51 and traded as high as $8.36. Digimarc shares last traded at $7.88, with a volume of 185,172 shares trading hands.

Analyst Upgrades and Downgrades

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

Digimarc Stock Performance

The firm has a market cap of $184.83 million, a PE ratio of -6.54 and a beta of 2.18. The stock’s 50 day simple moving average is $10.31 and its 200 day simple moving average is $7.50.

Digimarc (NASDAQ:DMRC) last released its earnings results on Tuesday, May 12th. The information technology services provider reported ($0.07) EPS for the quarter, beating 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 net margin of 85.75% and a negative return on equity of 21.81%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in DMRC. Bank of America Corp DE raised its stake in Digimarc by 13.4% in the first quarter. Bank of America Corp DE now owns 19,700 shares of the information technology services provider’s stock worth $97,000 after buying an additional 2,325 shares in the last quarter. Quantinno Capital Management LP boosted its position in Digimarc by 179.6% during the 1st 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 in the last quarter. Renaissance Technologies LLC bought a new stake in shares of Digimarc during the first quarter valued at approximately $820,000. IMC Chicago LLC purchased a new stake in shares of Digimarc in the 1st quarter worth about $82,000. Finally, Bryant Woods Investment Advisors LLC grew its holdings in Digimarc by 34.2% in the first quarter. Bryant Woods Investment Advisors LLC now owns 95,904 shares of the information technology services provider’s stock worth $471,000 after purchasing an additional 24,438 shares during the period. 66.85% of the stock is currently owned by institutional investors.

Digimarc Company Profile

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.