Digimarc (NASDAQ:DMRC) Shares Gap Up – Should You Buy?

Shares of Digimarc Co. (NASDAQ:DMRC) gapped up prior to trading on Monday . The stock had previously closed at $29.17, but opened at $29.91. Digimarc shares last traded at $29.19, with a volume of 3,622 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts have issued reports on DMRC shares. Needham & Company LLC reissued a “buy” rating and set a $40.00 price objective on shares of Digimarc in a research report on Wednesday, August 14th. StockNews.com upgraded shares of Digimarc to a “sell” rating in a research note on Tuesday, September 17th.

Digimarc Stock Up 0.3 %

The stock has a fifty day moving average price of $27.85 and a 200-day moving average price of $27.55. The firm has a market cap of $634.35 million, a price-to-earnings ratio of -14.27 and a beta of 1.70.

Digimarc (NASDAQ:DMRC) last announced its quarterly earnings data on Tuesday, August 13th. The information technology services provider reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.04. Digimarc had a negative net margin of 105.98% and a negative return on equity of 41.60%. The company had revenue of $10.38 million during the quarter.

Hedge Funds Weigh In On Digimarc

Large investors have recently modified their holdings of the business. West Branch Capital LLC purchased a new stake in shares of Digimarc during the 2nd quarter worth $62,000. nVerses Capital LLC purchased a new stake in shares of Digimarc during the 2nd quarter worth approximately $62,000. SG Americas Securities LLC acquired a new stake in shares of Digimarc in the 3rd quarter worth approximately $106,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Digimarc in the 2nd quarter valued at approximately $148,000. Finally, McCollum Christoferson Group LLC acquired a new position in Digimarc during the second quarter worth $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.