Northland Securities began coverage on shares of Digimarc (NASDAQ:DMRC) in a report issued on Thursday morning, The Fly reports. The firm issued an outperform rating and a $55.00 price objective on the information technology services provider’s stock.

DMRC has been the topic of a number of other reports. Needham & Company LLC cut Digimarc from a buy rating to a hold rating in a research report on Thursday, May 30th. They noted that the move was a valuation call. Zacks Investment Research cut Digimarc from a hold rating to a sell rating in a research report on Wednesday, June 12th. ValuEngine cut Digimarc from a buy rating to a hold rating in a research report on Wednesday, September 4th. Craig Hallum raised their target price on Digimarc from $42.00 to $75.00 and gave the company a buy rating in a research report on Friday, May 24th. Finally, BidaskClub upgraded Digimarc from a strong sell rating to a sell rating in a research report on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. The stock has an average rating of Hold and an average price target of $49.75.

Shares of Digimarc stock traded up $0.11 on Thursday, reaching $44.67. 9,112 shares of the company were exchanged, compared to its average volume of 95,819. The company’s 50-day moving average is $42.48 and its two-hundred day moving average is $42.04. The firm has a market cap of $479.92 million, a price-to-earnings ratio of -15.58 and a beta of 0.11. Digimarc has a 1-year low of $14.03 and a 1-year high of $66.50.

Digimarc (NASDAQ:DMRC) last announced its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported ($0.68) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.07. The business had revenue of $6.18 million for the quarter. Digimarc had a negative return on equity of 56.59% and a negative net margin of 149.00%.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wasatch Advisors Inc. increased its position in Digimarc by 49.9% in the 1st quarter. Wasatch Advisors Inc. now owns 140,094 shares of the information technology services provider’s stock valued at $4,396,000 after acquiring an additional 46,632 shares during the period. Handelsbanken Fonder AB increased its position in Digimarc by 28.6% in the 2nd quarter. Handelsbanken Fonder AB now owns 90,000 shares of the information technology services provider’s stock valued at $3,995,000 after acquiring an additional 20,000 shares during the period. Advisor Group Inc. increased its position in Digimarc by 11.8% in the 2nd quarter. Advisor Group Inc. now owns 26,566 shares of the information technology services provider’s stock valued at $1,179,000 after acquiring an additional 2,811 shares during the period. Handelsinvest Investeringsforvaltning increased its position in Digimarc by 50.0% in the 2nd quarter. Handelsinvest Investeringsforvaltning now owns 15,000 shares of the information technology services provider’s stock valued at $666,000 after acquiring an additional 5,000 shares during the period. Finally, Janney Montgomery Scott LLC increased its position in shares of Digimarc by 3.9% during the 2nd quarter. Janney Montgomery Scott LLC now owns 46,360 shares of the information technology services provider’s stock valued at $2,058,000 after purchasing an additional 1,753 shares during the period. Hedge funds and other institutional investors own 62.05% of the company’s stock.

Digimarc Company Profile

Digimarc Corporation provides media identification and management solutions to government and commercial customers in the United States and internationally. It offers Digimarc Intuitive Computing Platform, a comprehensive set of technologies for identifying, discovering, and interacting with digitally-enhanced media, which includes Digimarc Barcode, a method for imperceptibly enhancing packaging, print, images, thermal labels, audio, and other objects with data that is detected by enabled devices, such as smart phones, computers, barcode scanners, and machine-vision equipment.

Further Reading: Outstanding Shares and The Effect on Share Price

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Analyst Recommendations for Digimarc (NASDAQ:DMRC)

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