Digimarc (NASDAQ:DMRC) Stock Breaks Below 200-Day Moving Average – Here’s What Happened

Digimarc Corporation (NASDAQ:DMRC) shares crossed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $7.15 and traded as low as $7.09. Digimarc shares last traded at $7.12, with a volume of 294,909 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Needham & Company LLC reissued a “buy” rating on shares of Digimarc in a report on Friday. Wall Street Zen downgraded shares of Digimarc from a “hold” rating to a “sell” rating in a research note on Sunday, November 8th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Digimarc in a report on Thursday, October 15th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $15.00.

Digimarc Stock Performance

The stock’s 50-day moving average price is $6.53 and its two-hundred day moving average price is $7.15. The stock has a market capitalization of $159.56 million, a PE ratio of -5.05 and a beta of 2.18.

Digimarc (NASDAQ:DMRC) last issued its quarterly earnings results on Thursday, November 12th. The information technology services provider reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.24. Digimarc had a negative net margin of 103.48% and a negative return on equity of 38.14%. The company had revenue of $6.45 million during the quarter, compared to analysts’ expectations of $6.25 million.

Hedge Funds Weigh In On Digimarc

Large investors have recently made changes to their positions in the business. Steward Partners Investment Advisory LLC bought a new stake in shares of Digimarc in the 3rd quarter worth approximately $29,000. Versant Capital Management Inc bought a new position in Digimarc during the 3rd quarter valued at approximately $51,000. AXQ Capital LP bought a new position in Digimarc during the 2nd quarter valued at approximately $95,000. Bank of America Corp DE bought a new position in Digimarc during the 2nd quarter valued at approximately $134,000. Finally, IMC Chicago LLC purchased a new position in Digimarc during the first quarter valued at $82,000. 66.85% of the stock is currently owned by hedge funds and other institutional investors.

Digimarc Company Profile

Digimarc Corporation develops digital identification and authentication technologies that help businesses identify, track and manage products and media. Its technology uses digital watermarks and other identifiers embedded in or associated with items, allowing information to be detected by compatible devices and software. The company’s offerings include Digimarc Barcode, which can place product identifiers across packaging and printed materials to support retail checkout, inventory management and consumer engagement.