Digimarc (NASDAQ:DMRC) Trading Down 8% – Should You Sell?

Digimarc Co. (NASDAQ:DMRC)’s share price was down 8% on Tuesday . The stock traded as low as $33.00 and last traded at $32.29. Approximately 68,001 shares were traded during trading, a decline of 59% from the average daily volume of 166,957 shares. The stock had previously closed at $35.11.

Analysts Set New Price Targets

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

Digimarc Stock Down 10.4 %

The stock has a 50 day simple moving average of $38.54 and a 200 day simple moving average of $32.89. The company has a market cap of $673.97 million, a price-to-earnings ratio of -16.13 and a beta of 1.66.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of DMRC. KLP Kapitalforvaltning AS acquired a new position in shares of Digimarc in the fourth quarter worth about $105,000. Tower Research Capital LLC TRC lifted its stake in shares of Digimarc by 469.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,951 shares of the information technology services provider’s stock worth $111,000 after acquiring an additional 2,433 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Digimarc in the third quarter worth about $106,000. FMR LLC lifted its stake in shares of Digimarc by 201.6% in the third quarter. FMR LLC now owns 4,983 shares of the information technology services provider’s stock worth $134,000 after acquiring an additional 3,331 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Digimarc in the fourth quarter worth about $215,000. 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.