Digimarc (NASDAQ:DMRC) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Digimarc from “hold” to “sell,” while analyst opinions remain mixed. MarketBeat’s consensus rating is “Hold,” with a $15.00 price target.
• Digimarc shares opened at $7.53, compared with a 52-week range of $4.07 to $17.47, and the company has a market capitalization of approximately $168.75 million.
• Digimarc exceeded quarterly expectations, reporting an adjusted loss of $0.07 per share versus the $0.36 consensus loss estimate and revenue of $7.58 million, but it continues to report sharply negative profitability metrics.

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

Several other equities research analysts have also issued reports on the stock. Weiss Ratings reissued a "sell (e+)" rating on shares of Digimarc in a research report on Friday, July 17th. Needham & Company LLC reaffirmed a "buy" rating and set a $15.00 price target on shares of Digimarc in a research report on Friday. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $15.00.

Digimarc Price Performance

NASDAQ DMRC opened at $7.53 on Friday. The firm has a market capitalization of $168.75 million, a P/E ratio of -5.27 and a beta of 2.30. Digimarc has a 1-year low of $4.07 and a 1-year high of $17.47. The business's 50-day simple moving average is $7.87 and its 200-day simple moving average is $7.49.

Digimarc (NASDAQ:DMRC - Get Free Report) last posted its quarterly earnings results on Tuesday, May 12th. The information technology services provider reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.36) by $0.29. The firm had revenue of $7.58 million for the quarter, compared to analyst estimates of $7.05 million. Digimarc had a negative net margin of 99.80% and a negative return on equity of 32.27%.

Institutional Trading of Digimarc

Several large investors have recently bought and sold shares of DMRC. BlackRock Inc. purchased a new stake in shares of Digimarc during the second quarter valued at approximately $8,747,000. Bank of New York Mellon Corp purchased a new position in shares of Digimarc in the second quarter valued at $1,930,000. Quantinno Capital Management LP grew its holdings in Digimarc by 179.6% during 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 in the last quarter. Renaissance Technologies LLC acquired a new stake in Digimarc during the 1st quarter valued at $820,000. Finally, Millennium Management LLC increased its stake in Digimarc by 123.1% during the 4th quarter. Millennium Management LLC now owns 268,986 shares of the information technology services provider's stock worth $1,765,000 after buying an additional 148,435 shares during the period. Institutional investors and hedge funds own 66.85% of the company's stock.

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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