Digimarc (NASDAQ:DMRC) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of Digimarc (NASDAQ:DMRC) from a hold rating to a sell rating in a research note released on Sunday,Wall Street Zen reports.

Several other analysts also recently issued reports on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Digimarc in a research note on Thursday, October 15th. Needham & Company LLC reissued a “buy” rating and set a $15.00 price objective on shares of Digimarc in a report on Friday, August 14th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Digimarc currently has an average rating of “Hold” and an average price target of $15.00.

Digimarc Trading Down 2.3%

DMRC stock opened at $7.99 on Friday. The firm has a market cap of $179.06 million, a PE ratio of -5.59 and a beta of 2.18. Digimarc has a 1 year low of $4.07 and a 1 year high of $17.47. The company has a fifty day simple moving average of $6.42 and a 200 day simple moving average of $7.13.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Private Advisor Group LLC bought a new position in Digimarc in the 3rd quarter worth approximately $3,294,000. Russell Investments Group Ltd. bought a new stake in shares of Digimarc in the third quarter valued at approximately $599,000. Kimelman & Baird LLC boosted its position in shares of Digimarc by 3.2% in the third quarter. Kimelman & Baird LLC now owns 1,127,986 shares of the information technology services provider’s stock valued at $6,565,000 after acquiring an additional 34,953 shares during the period. Versant Capital Management Inc bought a new stake in shares of Digimarc in the third quarter valued at approximately $51,000. Finally, AXQ Capital LP acquired a new stake in shares of Digimarc in the second quarter worth $95,000. 66.85% of the stock is currently owned by institutional investors and hedge funds.

About Digimarc

Digimarc Corporation (NASDAQ: DMRC) develops digital watermarking and product identification technologies. Its platform embeds imperceptible, machine-readable identifiers into images, audio, video, printed materials and product packaging, enabling businesses and devices to recognize, authenticate and track physical and digital objects. The company’s solutions support applications including brand protection, product authentication, supply-chain visibility, media management, content monetization and recycling.