Digimarc (NASDAQ:DMRC) Shares Pass Above 200 Day Moving Average – Time to Sell?

Shares of Digimarc Corporation (NASDAQ:DMRC) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $7.01 and traded as high as $15.24. Digimarc shares last traded at $15.02, with a volume of 346,788 shares trading hands.

Wall Street Analyst Weigh In

DMRC has been the subject of a number of analyst reports. Needham & Company LLC raised their price target on Digimarc from $10.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Wall Street Zen upgraded Digimarc from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Digimarc in a research note on Monday, April 20th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Digimarc has an average rating of “Hold” and an average target price of $15.00.

Digimarc Stock Down 2.1%

The stock has a market capitalization of $326.93 million, a P/E ratio of -11.57 and a beta of 1.88. The stock has a 50 day simple moving average of $7.99 and a two-hundred day simple moving average of $7.06.

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

Institutional Trading of Digimarc

A number of hedge funds have recently made changes to their positions in DMRC. Invesco Ltd. acquired a new stake in shares of Digimarc in the fourth quarter valued at approximately $78,000. IMC Chicago LLC acquired a new stake in shares of Digimarc in the first quarter valued at approximately $82,000. Janney Montgomery Scott LLC lifted its position in shares of Digimarc by 25.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 13,866 shares of the information technology services provider’s stock valued at $91,000 after buying an additional 2,800 shares during the last quarter. Verition Fund Management LLC acquired a new stake in shares of Digimarc in the fourth quarter valued at approximately $96,000. Finally, Bank of America Corp DE lifted its position in shares of Digimarc by 13.4% in the first quarter. Bank of America Corp DE now owns 19,700 shares of the information technology services provider’s stock valued at $97,000 after buying an additional 2,325 shares during the last quarter. 66.85% of the stock is owned by institutional investors and hedge funds.

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.