Digimarc (NASDAQ:DMRC) Shares Gap Down to $28.84

Digimarc Co. (NASDAQ:DMRC)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $28.84, but opened at $28.00. Digimarc shares last traded at $25.41, with a volume of 52,645 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Needham & Company LLC reissued a “buy” rating and set a $40.00 price objective on shares of Digimarc in a research note on Wednesday. Craig Hallum decreased their price target on Digimarc from $35.00 to $28.00 and set a “hold” rating on the stock in a report on Friday, May 3rd.

Digimarc Trading Down 18.8 %

The company has a market capitalization of $500.77 million, a PE ratio of -12.70 and a beta of 1.73. The stock’s 50-day moving average is $30.34 and its two-hundred day moving average is $29.52.

Digimarc (NASDAQ:DMRC) last announced its quarterly earnings data on Tuesday, August 13th. The information technology services provider reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.04. Digimarc had a negative net margin of 114.38% and a negative return on equity of 46.01%. The company had revenue of $10.38 million during the quarter.

Hedge Funds Weigh In On Digimarc

Institutional investors have recently made changes to their positions in the company. West Branch Capital LLC bought a new position in Digimarc during the 2nd quarter worth about $62,000. nVerses Capital LLC purchased a new position in shares of Digimarc in the 2nd quarter valued at $62,000. SG Americas Securities LLC bought a new position in shares of Digimarc in the 4th quarter worth $133,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Digimarc during the 2nd quarter worth $148,000. Finally, McCollum Christoferson Group LLC bought a new stake in Digimarc during the second quarter valued at about $211,000. Hedge funds and other institutional investors 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.