Digimarc (NASDAQ:DMRC) Shares Down 3.2%

Digimarc Co. (NASDAQ:DMRC) fell 3.2% on Tuesday . The company traded as low as $28.29 and last traded at $28.29. 29,245 shares were traded during trading, a decline of 77% from the average session volume of 126,904 shares. The stock had previously closed at $29.23.

Analysts Set New Price Targets

Several analysts recently issued reports on DMRC shares. StockNews.com upgraded Digimarc to a “sell” rating in a research note on Tuesday. Needham & Company LLC reissued a “buy” rating and set a $40.00 target price on shares of Digimarc in a report on Wednesday, August 14th.

Digimarc Price Performance

The company has a market capitalization of $608.06 million, a price-to-earnings ratio of -13.68 and a beta of 1.70. The business’s 50-day moving average price is $29.71 and its two-hundred day moving average price is $27.75.

Digimarc (NASDAQ:DMRC) last announced 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 Investors Weigh In On Digimarc

A number of large investors have recently bought and sold shares of the company. Cubist Systematic Strategies LLC bought a new stake in shares of Digimarc during the 2nd quarter worth approximately $439,000. Kimelman & Baird LLC acquired a new position in Digimarc during the second quarter valued at approximately $18,249,000. Deerfield Management Company L.P. Series C bought a new stake in Digimarc during the second quarter worth $551,000. Squarepoint Ops LLC acquired a new stake in shares of Digimarc in the 2nd quarter valued at $747,000. Finally, Private Advisor Group LLC increased its stake in shares of Digimarc by 4.4% in the 2nd quarter. Private Advisor Group LLC now owns 351,908 shares of the information technology services provider’s stock valued at $10,913,000 after purchasing an additional 14,884 shares during the last quarter. 66.85% of the stock is currently 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.