Digimarc (NASDAQ:DMRC) Shares Pass Above 200 Day Moving Average – Here’s What Happened

Digimarc Co. (NASDAQ:DMRC)’s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $31.89 and traded as high as $41.93. Digimarc shares last traded at $40.07, with a volume of 204,836 shares.

Analysts Set New Price Targets

Several brokerages have commented on DMRC. StockNews.com upgraded shares of Digimarc to a “sell” rating in a research report on Tuesday, September 17th. Needham & Company LLC reiterated a “buy” rating and issued a $40.00 target price on shares of Digimarc in a report on Friday, November 15th.

Digimarc Trading Up 5.5 %

The stock has a fifty day moving average of $36.17 and a 200-day moving average of $31.96. The firm has a market capitalization of $938.88 million, a price-to-earnings ratio of -22.48 and a beta of 1.67.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in DMRC. Beaconlight Capital LLC raised its holdings in shares of Digimarc by 3.4% during the third quarter. Beaconlight Capital LLC now owns 801,084 shares of the information technology services provider’s stock valued at $21,533,000 after acquiring an additional 26,425 shares during the period. Kimelman & Baird LLC acquired a new stake in Digimarc during the 2nd quarter valued at $18,249,000. Silverberg Bernstein Capital Management LLC lifted its holdings in shares of Digimarc by 4.0% in the third quarter. Silverberg Bernstein Capital Management LLC now owns 459,933 shares of the information technology services provider’s stock valued at $12,363,000 after purchasing an additional 17,880 shares in the last quarter. Woodson Capital Management LP lifted its holdings in shares of Digimarc by 18.5% in the third quarter. Woodson Capital Management LP now owns 455,664 shares of the information technology services provider’s stock valued at $12,248,000 after purchasing an additional 71,126 shares in the last quarter. Finally, Private Advisor Group LLC boosted its position in shares of Digimarc by 2.2% in the third quarter. Private Advisor Group LLC now owns 359,714 shares of the information technology services provider’s stock worth $9,669,000 after buying an additional 7,806 shares during the period. 66.85% of the stock is currently owned by institutional investors and hedge funds.

Digimarc Company Profile

Digimarc Corporation, together with its subsidiaries, provides automatic identification solutions to commercial and government customers in the United States and internationally. The company offers Digimarc Validate protects, a cloud-based record of product authentication information; Digimarc Engage, an interactive communications channel connecting brands and consumers; and Digimarc Recycle.