Digimarc (NASDAQ:DMRC) Stock Breaks Below 200-Day Moving Average – Here’s What Happened

Digimarc Corporation (NASDAQ:DMRC)’s stock price crossed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $7.15 and traded as low as $7.09. Digimarc shares last traded at $7.12, with a volume of 294,909 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on DMRC. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Digimarc in a research report on Thursday, October 15th. Needham & Company LLC reiterated a “buy” rating on shares of Digimarc in a research note on Friday. Finally, Wall Street Zen downgraded shares of Digimarc from a “hold” rating to a “sell” rating in a research report on Sunday, November 8th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $15.00.

Digimarc Stock Down 4.2%

The stock’s fifty day moving average price is $6.53 and its 200 day moving average price is $7.15. The stock has a market cap of $159.56 million, a PE ratio of -5.05 and a beta of 2.18.

Digimarc (NASDAQ:DMRC) last announced its quarterly earnings results on Thursday, November 12th. The information technology services provider reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.24. The firm had revenue of $6.45 million for the quarter, compared to the consensus estimate of $6.25 million. Digimarc had a negative return on equity of 38.14% and a negative net margin of 103.48%.

Institutional Investors Weigh In On Digimarc

Hedge funds have recently modified their holdings of the business. Steward Partners Investment Advisory LLC bought a new stake in shares of Digimarc during the 3rd quarter valued at $29,000. Versant Capital Management Inc bought a new position in Digimarc in the 3rd quarter worth $51,000. IMC Chicago LLC bought a new position in Digimarc in the 1st quarter worth $82,000. AXQ Capital LP bought a new position in Digimarc in the 2nd quarter worth $95,000. Finally, Bank of America Corp DE raised its holdings in Digimarc by 13.4% in the 1st quarter. Bank of America Corp DE now owns 19,700 shares of the information technology services provider’s stock worth $97,000 after purchasing an additional 2,325 shares during the period. Institutional investors own 66.85% of the company’s stock.

Digimarc Company Profile

Digimarc Corporation develops digital identification and authentication technologies that help businesses identify, track and manage products and media. Its technology uses digital watermarks and other identifiers embedded in or associated with items, allowing information to be detected by compatible devices and software. The company’s offerings include Digimarc Barcode, which can place product identifiers across packaging and printed materials to support retail checkout, inventory management and consumer engagement.