Digimarc (NASDAQ:DMRC) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Digimarc Corporation (NASDAQ:DMRC) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $7.50 and traded as high as $12.04. Digimarc shares last traded at $11.33, with a volume of 313,110 shares trading hands.

Analyst Ratings Changes

Several analysts have issued reports on the company. Needham & Company LLC upped their price objective 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 analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $15.00.

Digimarc Stock Down 9.2%

The company has a market cap of $211.72 million, a P/E ratio of -7.50 and a beta of 2.19. The stock has a 50 day moving average price of $9.97 and a two-hundred day moving average price of $7.52.

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

Hedge Funds Weigh In On Digimarc

A number of large investors have recently made changes to their positions in DMRC. Cubist Systematic Strategies LLC bought a new position in shares of Digimarc during the first quarter worth approximately $128,000. Jane Street Group LLC increased its stake in Digimarc by 915.0% during the 1st quarter. Jane Street Group LLC now owns 69,538 shares of the information technology services provider’s stock worth $891,000 after acquiring an additional 62,687 shares during the period. Geode Capital Management LLC increased its stake in Digimarc by 1.4% during the 2nd quarter. Geode Capital Management LLC now owns 371,835 shares of the information technology services provider’s stock worth $4,913,000 after acquiring an additional 5,191 shares during the period. JPMorgan Chase & Co. increased its stake in Digimarc by 17.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 106,375 shares of the information technology services provider’s stock worth $1,405,000 after acquiring an additional 16,106 shares during the period. Finally, Quantbot Technologies LP bought a new position in Digimarc during the 2nd quarter worth $190,000. Institutional investors own 66.85% of the company’s stock.

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.