Digimarc (NASDAQ:DMRC) Stock Price Crosses Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Digimarc shares crossed above their 200-day moving average, reaching $7.89 before last trading at $7.73, compared with a 200-day average of $7.70.
• Analyst sentiment is mixed: Needham maintained a “Buy” rating with a $15 price target, while Wall Street Zen downgraded the stock to “Sell” and Weiss Ratings reiterated “Sell.” The overall consensus is “Hold,” with a $15 average price target.
• Institutional investors own approximately 66.85% of Digimarc’s shares, with several firms—including BlackRock and Kimelman & Baird—recently establishing or increasing positions.

Digimarc Corporation (NASDAQ:DMRC - Get Free Report)'s share price passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $7.70 and traded as high as $7.89. Digimarc shares last traded at $7.73, with a volume of 141,526 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of Digimarc from a "hold" rating to a "sell" rating in a report on Saturday, August 15th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Digimarc in a report on Thursday, October 15th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $15.00 price objective on shares of Digimarc in a research report on Friday, August 14th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $15.00.

Digimarc Price Performance

The company has a market cap of $173.23 million, a PE ratio of -5.41 and a beta of 2.44. The company's 50 day simple moving average is $5.93 and its two-hundred day simple moving average is $7.70.

Institutional Trading of Digimarc

Institutional investors have recently added to or reduced their stakes in the stock. Kimelman & Baird LLC purchased a new stake in Digimarc in the second quarter valued at approximately $8,985,000. BlackRock Inc. purchased a new position in shares of Digimarc during the second quarter worth $8,747,000. Private Advisor Group LLC boosted its position in shares of Digimarc by 12.8% during the first quarter. Private Advisor Group LLC now owns 502,001 shares of the information technology services provider's stock worth $2,465,000 after buying an additional 56,829 shares during the period. Beaconlight Capital LLC purchased a new position in shares of Digimarc during the second quarter worth $2,786,000. Finally, Quantinno Capital Management LP grew its position in 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 acquiring an additional 188,361 shares in the last quarter. Institutional investors and hedge funds own 66.85% of the company's stock.

Digimarc Company Profile

Digimarc Corporation develops digital watermarking and media identification technologies that help organizations identify, authenticate, manage and track physical and digital objects. Its technology embeds imperceptible, machine-readable identifiers into images, audio, video, packaging and other materials, allowing compatible systems to recognize content across its lifecycle.

The company's Digimarc Platform supports applications including brand protection, anti-counterfeiting, product authentication, copyright and content management, digital asset tracking, and recycling and materials identification.

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