Digimarc (NASDAQ:DMRC) Announces Earnings Results

Digimarc (NASDAQ:DMRC) posted its quarterly earnings data on Tuesday. The information technology services provider reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.36) by $0.29, FiscalAI reports. The firm had revenue of $7.58 million during the quarter, compared to analyst estimates of $7.05 million. Digimarc had a negative return on equity of 38.41% and a negative net margin of 95.27%.

Digimarc Stock Performance

Shares of NASDAQ DMRC traded down $0.04 during trading on Tuesday, hitting $8.91. 225,145 shares of the company traded hands, compared to its average volume of 233,353. The firm has a market capitalization of $196.82 million, a price-to-earnings ratio of -5.94 and a beta of 1.88. The business’s fifty day moving average is $6.17 and its 200 day moving average is $6.80. Digimarc has a fifty-two week low of $4.07 and a fifty-two week high of $14.64.

Analysts Set New Price Targets

DMRC has been the subject of several recent analyst reports. Wall Street Zen raised Digimarc from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Needham & Company LLC dropped their price target on Digimarc from $20.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday, March 16th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Digimarc in a report on Monday, April 20th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $10.00.

Institutional Trading of Digimarc

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC raised its stake in Digimarc by 25.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 13,866 shares of the information technology services provider’s stock worth $91,000 after buying an additional 2,800 shares during the period. Occudo Quantitative Strategies LP grew its stake in Digimarc by 18.4% in the third quarter. Occudo Quantitative Strategies LP now owns 24,977 shares of the information technology services provider’s stock valued at $244,000 after acquiring an additional 3,880 shares during the period. Turim 21 Investimentos Ltda. increased its holdings in shares of Digimarc by 4.1% during the third quarter. Turim 21 Investimentos Ltda. now owns 98,475 shares of the information technology services provider’s stock valued at $962,000 after acquiring an additional 3,922 shares in the last quarter. Private Advisor Group LLC increased its holdings in shares of Digimarc by 1.1% during the third quarter. Private Advisor Group LLC now owns 466,358 shares of the information technology services provider’s stock valued at $4,556,000 after acquiring an additional 4,890 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Digimarc by 1.4% during the second quarter. Geode Capital Management LLC now owns 371,835 shares of the information technology services provider’s stock worth $4,913,000 after purchasing an additional 5,191 shares during the period. 66.85% of the stock is owned by institutional investors.

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.