Digimarc (NASDAQ:DMRC) Stock Crosses Above 200 Day Moving Average - Here's Why

Key Points

• Digimarc shares rose 2.9% and briefly climbed above the 200-day moving average of $7.42, reaching $7.60 before trading at $7.41.
• Analyst views remain mixed, with one Buy and one Sell rating; MarketBeat reports a consensus Hold rating and an average price target of $15.00.
• Digimarc exceeded quarterly expectations, reporting an adjusted loss of $0.07 per share versus the projected $0.36 loss and revenue of $7.58 million versus the $7.05 million estimate.

Digimarc Corporation (NASDAQ:DMRC - Get Free Report) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $7.42 and traded as high as $7.60. Digimarc shares last traded at $7.41, with a volume of 111,218 shares traded.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on DMRC shares. Weiss Ratings reissued a "sell (e+)" rating on shares of Digimarc in a report on Friday, July 17th. Wall Street Zen raised shares of Digimarc to a "hold" rating in a research note on Saturday, July 18th. Finally, Needham & Company LLC lifted their target price on shares of Digimarc from $10.00 to $15.00 and gave the company a "buy" rating in a research note on Thursday, May 14th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Digimarc presently has a consensus rating of "Hold" and an average target price of $15.00.

Digimarc Trading Up 2.9%

The company has a market capitalization of $166.06 million, a price-to-earnings ratio of -5.83 and a beta of 2.30. The company has a 50 day moving average price of $9.02 and a 200 day moving average price of $7.42.

Digimarc (NASDAQ:DMRC - Get Free Report) last issued its quarterly earnings results on Tuesday, May 12th. The information technology services provider reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.36) by $0.29. The business had revenue of $7.58 million for the quarter, compared to analyst estimates of $7.05 million. Digimarc had a negative return on equity of 21.81% and a negative net margin of 85.75%.

Institutional Investors Weigh In On Digimarc

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in Digimarc by 2.3% in the third quarter. Vanguard Group Inc. now owns 1,330,053 shares of the information technology services provider's stock valued at $12,995,000 after buying an additional 30,258 shares during the period. Silverberg Bernstein Capital Management LLC raised its position in shares of Digimarc by 7.6% during the 1st quarter. Silverberg Bernstein Capital Management LLC now owns 779,255 shares of the information technology services provider's stock valued at $3,826,000 after acquiring an additional 55,110 shares during the last quarter. Kimelman & Baird LLC raised its position in shares of Digimarc by 7.2% during the 4th quarter. Kimelman & Baird LLC now owns 680,817 shares of the information technology services provider's stock valued at $4,466,000 after acquiring an additional 45,447 shares during the last quarter. Private Advisor Group LLC lifted its stake in shares of Digimarc by 12.8% in the 1st quarter. Private Advisor Group LLC now owns 502,001 shares of the information technology services provider's stock valued at $2,465,000 after purchasing an additional 56,829 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Digimarc by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 371,835 shares of the information technology services provider's stock valued at $4,913,000 after purchasing an additional 5,191 shares during the period. 66.85% of the stock is owned by institutional investors.

Digimarc Company Profile

Digimarc Corporation is a technology company specializing in digital identification and authentication solutions. Its core offering centers on embedding imperceptible digital watermarks into images, audio, video and packaging materials. These watermarks carry unique identifiers that enable secure tracking, brand protection and content provenance across print and digital channels.

The company's product suite includes software development kits and cloud-based services that allow enterprises to integrate digital watermarking into their existing workflows.

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