Digimarc (NASDAQ:DMRC) Shares Pass Above 200-Day Moving Average – What’s Next?

Digimarc Corporation (NASDAQ:DMRC) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $7.30 and traded as high as $13.98. Digimarc shares last traded at $13.63, with a volume of 293,462 shares changing hands.

Wall Street Analysts Forecast Growth

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

Digimarc Stock Down 5.5%

The company has a market capitalization of $303.13 million, a PE ratio of -10.73 and a beta of 2.19. The stock has a 50-day moving average of $8.98 and a 200 day moving average of $7.30.

Digimarc (NASDAQ:DMRC) last issued 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. 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 the consensus estimate of $7.05 million.

Institutional Trading of Digimarc

A number of large investors have recently bought and sold shares of DMRC. Quantinno Capital Management LP increased its position in 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 buying an additional 188,361 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in Digimarc in the first quarter worth $820,000. Millennium Management LLC increased its position in Digimarc by 123.1% in the fourth quarter. Millennium Management LLC now owns 268,986 shares of the information technology services provider’s stock worth $1,765,000 after buying an additional 148,435 shares during the last quarter. Jane Street Group LLC increased its position in Digimarc by 915.0% in the first quarter. Jane Street Group LLC now owns 69,538 shares of the information technology services provider’s stock worth $891,000 after buying an additional 62,687 shares during the last quarter. Finally, Private Advisor Group LLC increased its position in Digimarc by 12.8% in the first quarter. Private Advisor Group LLC now owns 502,001 shares of the information technology services provider’s stock worth $2,465,000 after buying an additional 56,829 shares during the last quarter. 66.85% of the stock is owned by hedge funds and other institutional investors.

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.