Digimarc (NASDAQ:DMRC) Shares Cross Above 200-Day Moving Average – Time to Sell?

Digimarc Corporation (NASDAQ:DMRC)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $7.42 and traded as high as $7.60. Digimarc shares last traded at $7.41, with a volume of 111,218 shares.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on DMRC. Needham & Company LLC boosted their price objective on shares of Digimarc from $10.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Weiss Ratings restated a “sell (e+)” rating on shares of Digimarc in a research note on Friday, July 17th. Finally, Wall Street Zen raised Digimarc to a “hold” rating in a research report on Saturday, July 18th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Digimarc presently has an average rating of “Hold” and a consensus price target of $15.00.

Digimarc Stock Performance

The firm’s 50 day simple moving average is $8.90 and its 200 day simple moving average is $7.43. The firm has a market capitalization of $170.99 million, a price-to-earnings ratio of -6.01 and a beta of 2.30.

Digimarc (NASDAQ:DMRC) last released its quarterly earnings data on Tuesday, May 12th. The information technology services provider reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.29. The firm 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%.

Hedge Funds Weigh In On Digimarc

A number of institutional investors have recently modified their holdings of the stock. Bank of America Corp DE raised its position in shares of Digimarc by 13.4% during the 1st quarter. Bank of America Corp DE now owns 19,700 shares of the information technology services provider’s stock worth $97,000 after purchasing an additional 2,325 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in Digimarc by 25.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 13,866 shares of the information technology services provider’s stock valued at $91,000 after buying an additional 2,800 shares in the last quarter. Occudo Quantitative Strategies LP boosted its holdings in Digimarc by 18.4% in the 3rd quarter. Occudo Quantitative Strategies LP now owns 24,977 shares of the information technology services provider’s stock worth $244,000 after buying an additional 3,880 shares during the last quarter. Turim 21 Investimentos Ltda. boosted its holdings in Digimarc by 4.1% in the 3rd quarter. Turim 21 Investimentos Ltda. now owns 98,475 shares of the information technology services provider’s stock worth $962,000 after buying an additional 3,922 shares during the last quarter. Finally, Private Advisor Group LLC boosted its holdings in Digimarc by 1.1% in the 3rd quarter. Private Advisor Group LLC now owns 466,358 shares of the information technology services provider’s stock worth $4,556,000 after buying an additional 4,890 shares during the last quarter. Hedge funds and other institutional investors own 66.85% of the company’s stock.

About Digimarc

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.