Digimarc (NASDAQ:DMRC) Trading Up 8.3%

Digimarc Co. (NASDAQ:DMRC)’s share price shot up 8.3% on Monday . The company traded as high as $28.03 and last traded at $27.94. 39,165 shares changed hands during trading, a decline of 70% from the average session volume of 128,480 shares. The stock had previously closed at $25.81.

Analyst Ratings Changes

Separately, Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 price target on shares of Digimarc in a research report on Wednesday, August 14th.

Digimarc Stock Up 10.5 %

The firm’s 50-day moving average is $29.95 and its 200-day moving average is $28.13. The company has a market cap of $610.90 million, a PE ratio of -13.46 and a beta of 1.70.

Digimarc (NASDAQ:DMRC) last released its quarterly earnings results on Tuesday, August 13th. The information technology services provider reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.04. The company had revenue of $10.38 million for the quarter. Digimarc had a negative return on equity of 41.60% and a negative net margin of 105.98%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets raised its holdings in Digimarc by 23.5% in the 4th quarter. BNP Paribas Financial Markets now owns 11,563 shares of the information technology services provider’s stock worth $418,000 after acquiring an additional 2,201 shares during the last quarter. Prelude Capital Management LLC boosted its position in shares of Digimarc by 16.6% during the fourth quarter. Prelude Capital Management LLC now owns 158,477 shares of the information technology services provider’s stock valued at $5,724,000 after buying an additional 22,620 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Digimarc by 1,834.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 547,966 shares of the information technology services provider’s stock worth $19,793,000 after purchasing an additional 519,643 shares during the period. Silverberg Bernstein Capital Management LLC lifted its stake in shares of Digimarc by 0.7% in the 1st quarter. Silverberg Bernstein Capital Management LLC now owns 433,053 shares of the information technology services provider’s stock worth $11,770,000 after purchasing an additional 3,079 shares during the period. Finally, Private Advisor Group LLC boosted its stake in shares of Digimarc by 2.7% during the 1st quarter. Private Advisor Group LLC now owns 337,024 shares of the information technology services provider’s stock worth $9,160,000 after acquiring an additional 8,875 shares during the last quarter. Hedge funds and other institutional investors own 66.85% of the company’s stock.

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.