Digimarc’s (DMRC) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Digimarc (NASDAQ:DMRC) in a report published on Friday morning,Benzinga reports. The brokerage currently has a $40.00 price objective on the information technology services provider’s stock.

Separately, StockNews.com upgraded shares of Digimarc to a “sell” rating in a research report on Tuesday, September 17th.

Digimarc Stock Down 9.8 %

Shares of NASDAQ DMRC traded down $2.95 during midday trading on Friday, hitting $27.17. The company had a trading volume of 509,347 shares, compared to its average volume of 121,588. The firm has a market capitalization of $581.98 million, a price-to-earnings ratio of -13.72 and a beta of 1.68. Digimarc has a twelve month low of $21.00 and a twelve month high of $43.43. The business has a 50-day simple moving average of $29.70 and a two-hundred day simple moving average of $28.76.

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

Institutional Trading of Digimarc

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in shares of Digimarc by 1.7% in the first quarter. Vanguard Group Inc. now owns 1,169,976 shares of the information technology services provider’s stock valued at $31,800,000 after buying an additional 19,460 shares during the last quarter. Beaconlight Capital LLC raised its holdings in Digimarc by 3.4% in the 3rd quarter. Beaconlight Capital LLC now owns 801,084 shares of the information technology services provider’s stock valued at $21,533,000 after acquiring an additional 26,425 shares during the last quarter. Kimelman & Baird LLC purchased a new position in shares of Digimarc during the 2nd quarter worth $18,249,000. Silverberg Bernstein Capital Management LLC lifted its stake in shares of Digimarc by 4.0% during the 3rd quarter. Silverberg Bernstein Capital Management LLC now owns 459,933 shares of the information technology services provider’s stock worth $12,363,000 after purchasing an additional 17,880 shares during the period. Finally, Woodson Capital Management LP boosted its holdings in shares of Digimarc by 18.5% during the third quarter. Woodson Capital Management LP now owns 455,664 shares of the information technology services provider’s stock worth $12,248,000 after purchasing an additional 71,126 shares during the last quarter. Hedge funds and other institutional investors 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.