Digimarc (NASDAQ:DMRC) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Digimarc (NASDAQ:DMRC) from a hold rating to a sell rating in a research report report published on Saturday morning.

Other equities analysts have also recently issued reports about the stock. Needham & Company LLC reiterated a “buy” rating and issued a $15.00 target price on shares of Digimarc in a research note on Friday. Weiss Ratings reissued a “sell (e+)” rating on shares of Digimarc in a research note on Friday, July 17th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $15.00.

Digimarc Stock Down 10.0%

DMRC opened at $6.78 on Friday. The company has a market cap of $151.94 million, a P/E ratio of -4.74 and a beta of 2.30. The firm’s 50-day moving average price is $7.74 and its 200-day moving average price is $7.50. Digimarc has a 52-week low of $4.07 and a 52-week high of $17.47.

Hedge Funds Weigh In On Digimarc

Hedge funds and other institutional investors have recently modified their holdings of the company. Quantinno Capital Management LP increased its stake in Digimarc by 179.6% in the 1st quarter. Quantinno Capital Management LP now owns 293,249 shares of the information technology services provider’s stock valued at $1,440,000 after purchasing an additional 188,361 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of Digimarc in the first quarter worth about $820,000. Silverberg Bernstein Capital Management LLC boosted its holdings in Digimarc by 7.6% in the first quarter. Silverberg Bernstein Capital Management LLC now owns 779,255 shares of the information technology services provider’s stock valued at $3,826,000 after purchasing an additional 55,110 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in Digimarc by 296.9% in the first quarter. Janney Montgomery Scott LLC now owns 55,034 shares of the information technology services provider’s stock valued at $270,000 after purchasing an additional 41,168 shares during the last quarter. Finally, IMC Chicago LLC acquired a new stake in Digimarc during the 1st quarter valued at approximately $82,000. 66.85% of the stock is currently owned by hedge funds and other institutional investors.

Digimarc Company Profile

Digimarc Corporation is a technology company specializing in digital identification and authentication solutions. Its core offering centers on embedding imperceptible digital watermarks into images, audio, video and packaging materials. These watermarks carry unique identifiers that enable secure tracking, brand protection and content provenance across print and digital channels.

The company’s product suite includes software development kits and cloud-based services that allow enterprises to integrate digital watermarking into their existing workflows.