Digimarc (NASDAQ:DMRC) Trading Up 7.2% – Here’s Why

Digimarc Co. (NASDAQ:DMRC) shot up 7.2% on Tuesday . The stock traded as high as $38.19 and last traded at $38.07. 84,054 shares traded hands during mid-day trading, a decline of 32% from the average session volume of 123,256 shares. The stock had previously closed at $35.50.

Analyst Ratings Changes

Several brokerages recently commented on DMRC. StockNews.com upgraded Digimarc to a “sell” rating in a research report on Tuesday, September 17th. Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 target price on shares of Digimarc in a report on Friday, November 15th.

Digimarc Stock Down 1.5 %

The stock has a 50-day moving average of $32.74 and a 200 day moving average of $30.35. The stock has a market cap of $776.51 million, a PE ratio of -18.59 and a beta of 1.70.

Hedge Funds Weigh In On Digimarc

Institutional investors and hedge funds have recently bought and sold shares of the company. Kimelman & Baird LLC purchased a new stake in shares of Digimarc during the 2nd quarter valued at approximately $18,249,000. Woodson Capital Management LP raised its position in Digimarc by 18.5% in the third quarter. Woodson Capital Management LP now owns 455,664 shares of the information technology services provider’s stock valued at $12,248,000 after purchasing an additional 71,126 shares during the period. Beaconlight Capital LLC lifted its stake in shares of Digimarc by 3.4% in the 3rd quarter. Beaconlight Capital LLC now owns 801,084 shares of the information technology services provider’s stock valued at $21,533,000 after purchasing an additional 26,425 shares during the last quarter. Squarepoint Ops LLC purchased a new position in shares of Digimarc during the 2nd quarter worth $747,000. Finally, Silverberg Bernstein Capital Management LLC increased its position in shares of Digimarc by 4.0% during the 3rd quarter. Silverberg Bernstein Capital Management LLC now owns 459,933 shares of the information technology services provider’s stock worth $12,363,000 after purchasing an additional 17,880 shares during the last quarter. 66.85% of the stock is currently owned by institutional investors and hedge funds.

About Digimarc

Digimarc Corporation, together with its subsidiaries, provides automatic identification solutions to commercial and government customers in the United States and internationally. The company offers Digimarc Validate protects, a cloud-based record of product authentication information; Digimarc Engage, an interactive communications channel connecting brands and consumers; and Digimarc Recycle.