StockNews.com Upgrades Digimarc (NASDAQ:DMRC) to Sell

Digimarc (NASDAQ:DMRC) was upgraded by equities research analysts at StockNews.com to a “sell” rating in a research report issued to clients and investors on Tuesday.

Separately, Needham & Company LLC restated a “buy” rating and set a $40.00 price objective on shares of Digimarc in a research report on Wednesday, August 14th.

Digimarc Stock Down 1.9 %

DMRC opened at $27.91 on Tuesday. The stock has a market cap of $596.52 million, a price-to-earnings ratio of -13.42 and a beta of 1.70. Digimarc has a 12-month low of $21.00 and a 12-month high of $43.43. The business has a 50 day moving average of $29.66 and a 200-day moving average of $27.70.

Digimarc (NASDAQ:DMRC) last released its quarterly earnings data on Tuesday, August 13th. The information technology services provider reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.04. The firm had revenue of $10.38 million during the quarter. Digimarc had a negative net margin of 105.98% and a negative return on equity of 41.60%.

Institutional Investors Weigh In On Digimarc

A number of hedge funds and other institutional investors have recently modified their holdings of DMRC. Cubist Systematic Strategies LLC bought a new position in Digimarc during the second quarter worth about $439,000. Kimelman & Baird LLC bought a new position in shares of Digimarc during the second quarter worth approximately $18,249,000. Deerfield Management Company L.P. Series C acquired a new stake in shares of Digimarc in the second quarter valued at approximately $551,000. Squarepoint Ops LLC bought a new stake in shares of Digimarc in the second quarter valued at approximately $747,000. Finally, Private Advisor Group LLC grew its position in Digimarc by 4.4% during the second quarter. Private Advisor Group LLC now owns 351,908 shares of the information technology services provider’s stock worth $10,913,000 after buying an additional 14,884 shares in the last quarter. Institutional investors and hedge funds own 66.85% of the company’s stock.

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.