Digimarc (NASDAQ:DMRC) Shares Up 6.7% – Here’s Why

Digimarc Co. (NASDAQ:DMRC)’s stock price rose 6.7% during mid-day trading on Monday . The company traded as high as $29.50 and last traded at $29.00. Approximately 40,015 shares traded hands during trading, a decline of 67% from the average daily volume of 121,222 shares. The stock had previously closed at $27.17.

Analysts Set New Price Targets

Several research firms have recently issued reports on DMRC. StockNews.com raised shares of Digimarc to a “sell” rating in a research report on Tuesday, September 17th. Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 price target on shares of Digimarc in a research report on Friday.

Digimarc Stock Performance

The firm has a fifty day moving average of $29.70 and a 200 day moving average of $28.87. The firm has a market capitalization of $612.18 million, a PE ratio of -14.95 and a beta of 1.68.

Institutional Trading of Digimarc

Several institutional investors have recently added to or reduced their stakes in the stock. Kimelman & Baird LLC acquired a new position in Digimarc in the second quarter worth $18,249,000. Vanguard Group Inc. boosted its holdings in shares of Digimarc by 1.7% in the 1st 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 period. Silverberg Bernstein Capital Management LLC boosted its holdings in shares of Digimarc by 4.0% in the 3rd quarter. Silverberg Bernstein Capital Management LLC now owns 459,933 shares of the information technology services provider’s stock valued at $12,363,000 after buying an additional 17,880 shares during the period. Cubist Systematic Strategies LLC bought a new stake in shares of Digimarc during the 2nd quarter valued at about $439,000. Finally, Squarepoint Ops LLC acquired a new stake in Digimarc during the second quarter worth about $747,000. 66.85% of the stock is owned by institutional investors and hedge funds.

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.