Digimarc (NASDAQ:DMRC) Shares Gap Down – Here’s Why

Shares of Digimarc Co. (NASDAQ:DMRC) gapped down before the market opened on Friday . The stock had previously closed at $30.12, but opened at $28.90. Digimarc shares last traded at $28.50, with a volume of 90,529 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on DMRC shares. StockNews.com raised shares of Digimarc to a “sell” rating in a research report on Tuesday, September 17th. Needham & Company LLC reiterated a “buy” rating and issued a $40.00 target price on shares of Digimarc in a report on Friday.

Digimarc Trading Down 9.8 %

The stock has a fifty day simple moving average of $29.70 and a 200-day simple moving average of $28.82. The stock has a market cap of $582.01 million, a price-to-earnings ratio of -13.93 and a beta of 1.68.

Institutional Investors Weigh In On Digimarc

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets boosted its holdings in Digimarc by 10.4% in the 1st quarter. BNP Paribas Financial Markets now owns 12,770 shares of the information technology services provider’s stock valued at $347,000 after purchasing an additional 1,207 shares during the period. Vanguard Group Inc. grew its position in Digimarc by 1.7% during the first quarter. Vanguard Group Inc. now owns 1,169,976 shares of the information technology services provider’s stock worth $31,800,000 after buying an additional 19,460 shares in the last quarter. Beaconlight Capital LLC increased its stake in Digimarc by 34.7% during the first quarter. Beaconlight Capital LLC now owns 778,017 shares of the information technology services provider’s stock valued at $21,147,000 after acquiring an additional 200,251 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Digimarc by 3.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,185 shares of the information technology services provider’s stock valued at $413,000 after acquiring an additional 495 shares in the last quarter. Finally, Woodson Capital Management LP bought a new stake in shares of Digimarc in the 1st quarter worth approximately $2,718,000. Institutional investors and hedge funds own 66.85% of the company’s stock.

Digimarc Company Profile

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.