Digimarc (NASDAQ:DMRC) Stock Price Up 7.7% – Here’s Why

Digimarc Co. (NASDAQ:DMRC) rose 7.7% on Friday . The stock traded as high as $43.31 and last traded at $43.31. Approximately 48,954 shares traded hands during mid-day trading, a decline of 59% from the average daily volume of 119,857 shares. The stock had previously closed at $40.20.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on DMRC. Needham & Company LLC reissued a “buy” rating and set a $40.00 target price on shares of Digimarc in a research note on Friday, November 15th. StockNews.com upgraded shares of Digimarc to a “sell” rating in a report on Tuesday, September 17th.

Digimarc Stock Up 8.8 %

The firm has a market cap of $936.53 million, a P/E ratio of -22.42 and a beta of 1.70. The business has a fifty day simple moving average of $34.27 and a 200-day simple moving average of $31.02.

Hedge Funds Weigh In On Digimarc

Large investors have recently made changes to their positions in the business. nVerses Capital LLC bought a new stake in Digimarc in the second quarter worth $62,000. SG Americas Securities LLC purchased a new stake in Digimarc during the 3rd quarter valued at about $106,000. FMR LLC grew its position in Digimarc by 201.6% during the 3rd quarter. FMR LLC now owns 4,983 shares of the information technology services provider’s stock valued at $134,000 after purchasing an additional 3,331 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Digimarc during the 2nd quarter valued at about $148,000. Finally, BNP Paribas Financial Markets raised its holdings in 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 worth $210,000 after buying an additional 1,724 shares during the last quarter. 66.85% of the stock is currently 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.