Digimarc (NASDAQ:DMRC) Shares Gap Down – Here’s Why

Digimarc Co. (NASDAQ:DMRC) shares gapped down prior to trading on Friday . The stock had previously closed at $30.12, but opened at $28.90. Digimarc shares last traded at $28.50, with a volume of 90,529 shares traded.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. StockNews.com upgraded shares of Digimarc to a “sell” rating in a research note on Tuesday, September 17th. Needham & Company LLC reiterated a “buy” rating and issued a $40.00 price objective on shares of Digimarc in a research report on Friday.

Digimarc Stock Performance

The company has a 50 day simple moving average of $29.67 and a 200 day simple moving average of $28.73. The company has a market capitalization of $624.82 million, a PE ratio of -14.15 and a beta of 1.68.

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

Institutional Investors Weigh In On Digimarc

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. West Branch Capital LLC purchased a new stake in Digimarc during the second quarter worth approximately $62,000. nVerses Capital LLC acquired a new stake in shares of Digimarc in the 2nd quarter worth approximately $62,000. SG Americas Securities LLC acquired a new position in Digimarc during the third quarter worth about $106,000. FMR LLC raised its holdings in shares of Digimarc by 201.6% in the third quarter. FMR LLC now owns 4,983 shares of the information technology services provider’s stock worth $134,000 after acquiring an additional 3,331 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Digimarc during the 2nd quarter worth $148,000. Hedge funds and other 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.