Digimarc (NASDAQ:DMRC) Announces Earnings Results

Digimarc (NASDAQ:DMRC) issued its quarterly earnings results on Thursday. The information technology services provider reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.25, FiscalAI reports. Digimarc had a negative net margin of 85.75% and a negative return on equity of 21.81%. The firm had revenue of $7.39 million for the quarter, compared to analyst estimates of $7.10 million.

Digimarc Trading Down 5.6%

NASDAQ DMRC traded down $0.42 during trading on Thursday, hitting $7.04. The company had a trading volume of 207,648 shares, compared to its average volume of 223,841. The company’s fifty day moving average is $8.14 and its 200-day moving average is $7.48. Digimarc has a one year low of $4.07 and a one year high of $17.47. The company has a market cap of $157.75 million, a price-to-earnings ratio of -5.54 and a beta of 2.30.

Institutional Investors Weigh In On Digimarc

Hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. bought a new position in Digimarc in the 4th quarter valued at approximately $78,000. Janney Montgomery Scott LLC increased its holdings in shares of Digimarc by 25.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 13,866 shares of the information technology services provider’s stock worth $91,000 after purchasing an additional 2,800 shares in the last quarter. Verition Fund Management LLC purchased a new position in shares of Digimarc in the fourth quarter worth $96,000. Marshall Wace LLP bought a new position in shares of Digimarc during the fourth quarter valued at $114,000. Finally, Quadrature Capital Ltd bought a new position in shares of Digimarc during the fourth quarter valued at $116,000. 66.85% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

DMRC has been the subject of several analyst reports. Needham & Company LLC increased their target price on Digimarc from $10.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Wall Street Zen upgraded Digimarc to a “hold” rating in a research report on Saturday, July 18th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Digimarc in a research note on Friday, July 17th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Digimarc currently has a consensus rating of “Hold” and a consensus price target of $15.00.

About Digimarc

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.