Digimarc (NASDAQ:DMRC) Trading 4.9% Higher – Time to Buy?

Digimarc Co. (NASDAQ:DMRC) shares traded up 4.9% during mid-day trading on Monday . The stock traded as high as $31.47 and last traded at $31.47. 66,700 shares were traded during mid-day trading, a decline of 45% from the average session volume of 121,874 shares. The stock had previously closed at $30.00.

Analysts Set New Price Targets

Several analysts have issued reports on the company. StockNews.com upgraded Digimarc to a “sell” rating in a research note on Tuesday, September 17th. Needham & Company LLC restated a “buy” rating and issued a $40.00 target price on shares of Digimarc in a research note on Wednesday, August 14th.

Digimarc Stock Down 3.1 %

The company has a market capitalization of $668.55 million, a PE ratio of -15.35 and a beta of 1.70. The company has a 50-day moving average price of $28.05 and a two-hundred day moving average price of $27.73.

Digimarc (NASDAQ:DMRC) last issued its quarterly earnings results on Tuesday, August 13th. The information technology services provider reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.04. Digimarc had a negative return on equity of 41.60% and a negative net margin of 105.98%. The firm had revenue of $10.38 million during the quarter.

Institutional Investors Weigh In On Digimarc

Hedge funds and other institutional investors have recently modified their holdings of the stock. Kimelman & Baird LLC bought a new position in Digimarc during the 2nd quarter valued at approximately $18,249,000. Goldman Sachs Group Inc. raised its position in Digimarc by 1,834.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 547,966 shares of the information technology services provider’s stock valued at $19,793,000 after purchasing an additional 519,643 shares during the last quarter. Beaconlight Capital LLC raised its position in Digimarc by 34.7% during the 1st quarter. Beaconlight Capital LLC now owns 778,017 shares of the information technology services provider’s stock valued at $21,147,000 after purchasing an additional 200,251 shares during the last quarter. Woodson Capital Management LP bought a new position in Digimarc during the 1st quarter valued at approximately $2,718,000. Finally, Squarepoint Ops LLC bought a new position in Digimarc during the 2nd quarter valued at approximately $747,000. Institutional investors own 66.85% of the company’s stock.

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.