Digimarc (NASDAQ:DMRC) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Digimarc (NASDAQ:DMRC) in a research note issued to investors on Friday morning,Benzinga reports. Needham & Company LLC currently has a $40.00 price objective on the information technology services provider’s stock.

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

Digimarc Price Performance

DMRC stock traded down $2.95 on Friday, hitting $27.17. 509,347 shares of the company were exchanged, compared to its average volume of 121,588. The stock 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’s fifty day moving average is $29.70 and its two-hundred day moving average is $28.76.

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

Institutional Investors Weigh In On Digimarc

Several large investors have recently made changes to their positions in the business. Barclays PLC lifted its holdings in shares of Digimarc by 240.9% during the 3rd quarter. Barclays PLC now owns 25,172 shares of the information technology services provider’s stock valued at $677,000 after acquiring an additional 17,788 shares in the last quarter. Verition Fund Management LLC purchased a new position in Digimarc in the third quarter valued at about $216,000. Woodson Capital Management LP lifted its stake 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 in the last quarter. PEAK6 Investments LLC purchased a new stake in shares of Digimarc in the third quarter worth about $292,000. Finally, Beaconlight Capital LLC grew its stake in shares of Digimarc by 3.4% in the third quarter. Beaconlight Capital LLC now owns 801,084 shares of the information technology services provider’s stock valued at $21,533,000 after buying an additional 26,425 shares in the last quarter. 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.