Digimarc (NASDAQ:DMRC) Upgraded by StockNews.com to Sell

StockNews.com upgraded shares of Digimarc (NASDAQ:DMRC) to a sell rating in a research note released on Tuesday morning.

Separately, Needham & Company LLC restated a buy rating and issued a $40.00 target price on shares of Digimarc in a research note on Wednesday, August 14th.

Digimarc Stock Down 1.4 %

Shares of NASDAQ:DMRC opened at $28.13 on Tuesday. The firm has a market cap of $601.22 million, a price-to-earnings ratio of -13.52 and a beta of 1.70. Digimarc has a 12 month low of $21.00 and a 12 month high of $43.43. The company’s fifty day simple moving average is $29.54 and its 200 day simple moving average is $27.71.

Digimarc (NASDAQ:DMRC) last released its quarterly earnings results on Tuesday, August 13th. The information technology services provider reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.04. The firm 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 Investors Weigh In On Digimarc

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets grew its holdings in shares of 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 valued at $418,000 after acquiring an additional 2,201 shares in the last quarter. Prelude Capital Management LLC grew its stake in Digimarc by 16.6% in 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 purchasing an additional 22,620 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Digimarc by 1,834.7% during 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 last quarter. Silverberg Bernstein Capital Management LLC increased its position in shares of Digimarc by 0.7% during 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 last quarter. Finally, Private Advisor Group LLC raised 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 purchasing an additional 8,875 shares in the last quarter. 66.85% of the stock is owned by institutional investors.

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.