Zacks Investment Research downgraded shares of Digimarc Corporation (NASDAQ:DMRC) from a hold rating to a sell rating in a research report sent to investors on Tuesday morning.

According to Zacks, “DIGIMARC CORPORATION based in Beaverton, Oregon, is a leading innovator and technology provider, enabling businesses and governments worldwide to enrich everyday living by giving persistent digital identities to all forms of media and objects. The company’s technology enables a wide range of solutions for enhancing traffic safety and national security, deterring fraud, counterfeiting and piracy, and enabling new digital media distribution and monetization models that provide consumers with more choice and access to content when, where and how they want it. Digimarc licenses its intellectual property to business partners across a range of industries, delivers solutions for protecting and managing digital images, and offers professional development services to bring strategic initiatives to market. “

Several other equities research analysts have also recently issued reports on DMRC. Craig Hallum cut Digimarc Corporation from a buy rating to a hold rating in a research note on Friday, July 7th. BidaskClub lowered Digimarc Corporation from a buy rating to a hold rating in a research note on Tuesday, July 11th. Needham & Company LLC reaffirmed a buy rating and issued a $42.00 price target on shares of Digimarc Corporation in a research note on Monday, July 10th. Cowen and Company increased their price target on Digimarc Corporation from $45.00 to $50.00 and gave the stock an outperform rating in a report on Tuesday, June 27th. Finally, B. Riley reiterated a buy rating and set a $44.00 price target on shares of Digimarc Corporation in a report on Saturday, July 29th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $45.75.

Digimarc Corporation (NASDAQ DMRC) traded up 0.41% during mid-day trading on Tuesday, hitting $36.30. The stock had a trading volume of 60,056 shares. Digimarc Corporation has a one year low of $24.20 and a one year high of $41.75. The company’s market cap is $390.95 million. The firm’s 50-day moving average price is $31.26 and its 200 day moving average price is $31.41.

Digimarc Corporation (NASDAQ:DMRC) last released its quarterly earnings data on Wednesday, July 26th. The information technology services provider reported ($0.68) EPS for the quarter, meeting analysts’ consensus estimates of ($0.68). The firm had revenue of $5.59 million for the quarter, compared to analysts’ expectations of $5.69 million. Digimarc Corporation had a negative return on equity of 32.18% and a negative net margin of 107.49%. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.62) earnings per share. On average, equities research analysts anticipate that Digimarc Corporation will post ($2.68) EPS for the current year.

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Institutional investors have recently bought and sold shares of the stock. American International Group Inc. raised its position in Digimarc Corporation by 8.1% in the first quarter. American International Group Inc. now owns 5,198 shares of the information technology services provider’s stock valued at $140,000 after purchasing an additional 391 shares during the period. Wolverine Trading LLC acquired a new position in Digimarc Corporation during the second quarter worth $272,000. Alliancebernstein L.P. acquired a new position in Digimarc Corporation during the second quarter worth $301,000. The Manufacturers Life Insurance Company lifted its stake in Digimarc Corporation by 6.9% during the second quarter. The Manufacturers Life Insurance Company now owns 8,339 shares of the information technology services provider’s stock worth $334,000 after purchasing an additional 540 shares in the last quarter. Finally, Berson & Corrado Investment Advisors LLC acquired a new position in Digimarc Corporation during the second quarter worth $385,000. Hedge funds and other institutional investors own 52.75% of the company’s stock.

About Digimarc Corporation

Digimarc Corporation (Digimarc) enables governments and enterprises to give digital identities to media and objects that computers can sense and recognize. The Company’s Digimarc Discover, Digimarc Barcode and Intuitive Computing Platform are designed to optimize the identification of consumer brand impressions, facilitating mobile-centric shopping.

Analyst Recommendations for Digimarc Corporation (NASDAQ:DMRC)

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