Digimarc (NASDAQ:DMRC) Shares Cross Above 200 Day Moving Average – What’s Next?

Digimarc Co. (NASDAQ:DMRC) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $32.53 and traded as high as $42.02. Digimarc shares last traded at $40.11, with a volume of 115,323 shares.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC restated a “buy” rating and issued a $40.00 price target on shares of Digimarc in a report on Friday, November 15th.

Digimarc Stock Down 1.7 %

The stock’s fifty day moving average price is $37.75 and its 200 day moving average price is $32.54.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DMRC. SG Americas Securities LLC purchased a new stake in shares of Digimarc during the third quarter valued at about $106,000. FMR LLC lifted its position in shares of Digimarc by 201.6% during the third quarter. FMR LLC now owns 4,983 shares of the information technology services provider’s stock valued at $134,000 after buying an additional 3,331 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of Digimarc by 28.4% during the third quarter. BNP Paribas Financial Markets now owns 7,800 shares of the information technology services provider’s stock valued at $210,000 after buying an additional 1,724 shares during the last quarter. Verition Fund Management LLC purchased a new stake in shares of Digimarc during the third quarter valued at about $216,000. Finally, JPMorgan Chase & Co. lifted its position in shares of Digimarc by 41.5% during the third quarter. JPMorgan Chase & Co. now owns 9,187 shares of the information technology services provider’s stock valued at $247,000 after buying an additional 2,695 shares during the last quarter. 66.85% of the stock is currently 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.