Digimarc (NASDAQ:DMRC) Stock Rating Raised to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded Digimarc from “sell” to “hold,” while analysts remain divided: Needham maintained a “buy” rating with a $15 price target, and Weiss Ratings reiterated “sell.” The consensus rating is “Hold” with an average target price of $15.
• Digimarc shares opened at $8.83, with a market capitalization of approximately $197.9 million. The stock has traded between $4.07 and $17.47 over the past year.
• Institutional investors own 66.85% of Digimarc, with BlackRock and Kimelman & Baird each recently establishing positions worth roughly $8.7 million and $9.0 million, respectively.

Digimarc (NASDAQ:DMRC - Get Free Report) was upgraded by analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Other analysts also recently issued research reports about the company. Needham & Company LLC reissued a "buy" rating and set a $15.00 target price on shares of Digimarc in a research note on Friday, August 14th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Digimarc in a report on Thursday, October 15th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Digimarc has an average rating of "Hold" and an average target price of $15.00.

Digimarc Trading Up 0.7%

Digimarc stock opened at $8.83 on Friday. The firm has a 50 day moving average of $6.12 and a 200 day moving average of $7.06. The firm has a market capitalization of $197.88 million, a price-to-earnings ratio of -6.17 and a beta of 2.44. Digimarc has a 12-month low of $4.07 and a 12-month high of $17.47.

Institutional Trading of Digimarc

A number of large investors have recently made changes to their positions in DMRC. Bank of New York Mellon Corp bought a new stake in Digimarc during the second quarter worth approximately $1,930,000. Quantinno Capital Management LP lifted its stake in shares of Digimarc by 179.6% in the 1st quarter. Quantinno Capital Management LP now owns 293,249 shares of the information technology services provider's stock valued at $1,440,000 after purchasing an additional 188,361 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Digimarc in the 1st quarter valued at approximately $820,000. BlackRock Inc. purchased a new position in shares of Digimarc in the 2nd quarter worth approximately $8,747,000. Finally, Kimelman & Baird LLC purchased a new position in shares of Digimarc in the 2nd quarter worth approximately $8,985,000. 66.85% of the stock is currently owned by institutional investors.

About Digimarc

Digimarc Corporation NASDAQ: DMRC develops digital watermarking and product identification technologies. Its platform embeds imperceptible, machine-readable identifiers into images, audio, video, printed materials and product packaging, enabling businesses and devices to recognize, authenticate and track physical and digital objects.

The company's solutions support applications including brand protection, product authentication, supply-chain visibility, media management, content monetization and recycling.

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