Digimarc (NASDAQ:DMRC) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Digimarc (NASDAQ:DMRC) to a hold rating in a research note published on Saturday morning.

Several other research firms also recently issued reports on DMRC. Needham & Company LLC upped their price objective on shares of Digimarc from $10.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Digimarc in a research note on Monday, April 20th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $15.00.

Digimarc Price Performance

Shares of DMRC stock opened at $6.08 on Friday. Digimarc has a 1-year low of $4.07 and a 1-year high of $17.47. The stock’s fifty day moving average price is $10.07 and its 200 day moving average price is $7.43. The company has a market cap of $136.25 million, a price-to-earnings ratio of -4.79 and a beta of 2.27.

Digimarc (NASDAQ:DMRC) last released its quarterly earnings results on Tuesday, May 12th. The information technology services provider reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.29. The company had revenue of $7.58 million during the quarter, compared to analysts’ expectations of $7.05 million. Digimarc had a negative return on equity of 21.81% and a negative net margin of 85.75%.

Institutional Trading of Digimarc

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE grew its stake in Digimarc by 13.4% during the 1st quarter. Bank of America Corp DE now owns 19,700 shares of the information technology services provider’s stock valued at $97,000 after purchasing an additional 2,325 shares during the last quarter. Quantinno Capital Management LP raised its stake in shares of Digimarc by 179.6% in the first quarter. Quantinno Capital Management LP now owns 293,249 shares of the information technology services provider’s stock worth $1,440,000 after purchasing an additional 188,361 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of Digimarc in the first quarter worth about $820,000. IMC Chicago LLC acquired a new stake in shares of Digimarc during the first quarter worth about $82,000. Finally, Bryant Woods Investment Advisors LLC lifted its holdings in shares of Digimarc by 34.2% during the first quarter. Bryant Woods Investment Advisors LLC now owns 95,904 shares of the information technology services provider’s stock worth $471,000 after purchasing an additional 24,438 shares during the period. Institutional investors and hedge funds own 66.85% of the company’s stock.

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.