Digimarc (NASDAQ:DMRC) Trading 8.8% Higher

Digimarc Co. (NASDAQ:DMRC) traded up 8.8% during mid-day trading on Thursday . The stock traded as high as $26.70 and last traded at $26.27. 144,235 shares changed hands during trading, an increase of 9% from the average session volume of 132,670 shares. The stock had previously closed at $24.15.

Analysts Set New Price Targets

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

Digimarc Price Performance

The firm’s fifty day moving average price is $30.24 and its 200-day moving average price is $29.48. The firm has a market capitalization of $555.91 million, a P/E ratio of -12.48 and a beta of 1.73.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. West Branch Capital LLC purchased a new position in shares of Digimarc in the second quarter worth approximately $62,000. nVerses Capital LLC purchased a new position in Digimarc during the 2nd quarter worth approximately $62,000. SG Americas Securities LLC purchased a new position in Digimarc during the 4th quarter worth approximately $133,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Digimarc during the second quarter valued at $148,000. Finally, McCollum Christoferson Group LLC purchased a new position in shares of Digimarc during the second quarter valued at $211,000. 66.85% of the stock is owned by hedge funds and other institutional investors.

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.