Digimarc (NASDAQ:DMRC) Downgraded by Wall Street Zen to “Sell”

Wall Street Zen lowered shares of Digimarc (NASDAQ:DMRC) from a hold rating to a sell rating in a research report sent to investors on Sunday morning,Wall Street Zen reports.

Other equities research analysts have also recently issued reports about the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Digimarc in a research report on Thursday, October 15th. Needham & Company LLC reiterated a “buy” rating and issued a $15.00 target price on shares of Digimarc in a report on Friday, August 14th. One 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 currently has a consensus rating of “Hold” and a consensus target price of $15.00.

Digimarc Stock Performance

Shares of DMRC stock opened at $7.72 on Friday. The company’s 50-day moving average price is $6.34 and its 200-day moving average price is $7.11. The stock has a market cap of $173.01 million, a price-to-earnings ratio of -5.40 and a beta of 2.18. Digimarc has a twelve month low of $4.07 and a twelve month high of $17.47.

Hedge Funds Weigh In On Digimarc

Hedge funds have recently modified their holdings of the business. Kimelman & Baird LLC purchased a new position in Digimarc during the second quarter worth about $8,985,000. BlackRock Inc. acquired a new stake in shares of Digimarc during the second quarter valued at about $8,747,000. Beaconlight Capital LLC purchased a new stake in shares of Digimarc in the 2nd quarter valued at approximately $2,786,000. Bank of New York Mellon Corp purchased a new stake in shares of Digimarc in the 2nd quarter valued at approximately $1,930,000. Finally, Quantinno Capital Management LP raised its stake in shares of 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 acquiring an additional 188,361 shares during the period. 66.85% of the stock is currently owned by hedge funds and other institutional investors.

Digimarc Company Profile

Digimarc Corporation (NASDAQ: DMRC) develops digital watermarking and product identification technologies. Its platform embeds imperceptible, machine-readable identifiers into images, audio, video, printed materials and product packaging, enabling businesses and devices to recognize, authenticate and track physical and digital objects.

The company’s solutions support applications including brand protection, product authentication, supply-chain visibility, media management, content monetization and recycling.