Digimarc (NASDAQ:DMRC) Stock Price Breaks Above Two Hundred Day Moving Average – Should You Sell?
by Michael Walen · The Markets DailyDigimarc Corporation (NASDAQ:DMRC – Get Free Report) crossed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $7.70 and traded as high as $7.89. Digimarc shares last traded at $7.73, with a volume of 141,526 shares changing hands.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on DMRC shares. Needham & Company LLC restated a “buy” rating and issued a $15.00 target price on shares of Digimarc in a research note on Friday, August 14th. Wall Street Zen cut shares of Digimarc from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Digimarc in a report on Thursday, October 15th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Digimarc presently has a consensus rating of “Hold” and an average price target of $15.00.
Read Our Latest Analysis on DMRC
Digimarc Stock Down 3.6%
The firm has a fifty day moving average price of $5.94 and a 200 day moving average price of $7.73. The company has a market cap of $161.35 million, a P/E ratio of -5.03 and a beta of 2.44.
Institutional Investors Weigh In On Digimarc
Several hedge funds and other institutional investors have recently added to or reduced their stakes in DMRC. Versant Capital Management Inc acquired a new position in shares of Digimarc during the third quarter worth approximately $51,000. AXQ Capital LP bought a new stake in shares of Digimarc during the second quarter valued at approximately $95,000. Bank of America Corp DE bought a new stake in shares of Digimarc during the second quarter valued at approximately $134,000. IMC Chicago LLC acquired a new stake in shares of Digimarc in the first quarter valued at approximately $82,000. Finally, Turim 21 Investimentos Ltda. acquired a new stake in shares of Digimarc in the second quarter valued at approximately $165,000. Institutional investors and hedge funds own 66.85% of the company’s stock.
Digimarc Company Profile
Digimarc Corporation develops digital watermarking and media identification technologies that help organizations identify, authenticate, manage and track physical and digital objects. Its technology embeds imperceptible, machine-readable identifiers into images, audio, video, packaging and other materials, allowing compatible systems to recognize content across its lifecycle.
The company’s Digimarc Platform supports applications including brand protection, anti-counterfeiting, product authentication, copyright and content management, digital asset tracking, and recycling and materials identification.