Digimarc (NASDAQ:DMRC) Trading 6.7% Higher – Should You Buy?

Digimarc Co. (NASDAQ:DMRC) shares rose 6.7% during trading on Monday . The stock traded as high as $29.50 and last traded at $29.00. Approximately 40,015 shares traded hands during trading, a decline of 67% from the average daily volume of 121,222 shares. The stock had previously closed at $27.17.

Wall Street Analyst Weigh In

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

Digimarc Trading Up 5.2 %

The stock has a market cap of $612.18 million, a price-to-earnings ratio of -14.95 and a beta of 1.68. The firm’s 50 day moving average is $29.70 and its two-hundred day moving average is $28.87.

Institutional Trading of Digimarc

A number of hedge funds have recently bought and sold shares of the company. West Branch Capital LLC purchased a new position in shares of Digimarc during the 2nd quarter worth $62,000. nVerses Capital LLC acquired a new stake in Digimarc in the 2nd quarter worth about $62,000. SG Americas Securities LLC purchased a new stake in Digimarc in the 3rd quarter valued at about $106,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Digimarc during the 2nd quarter valued at about $148,000. Finally, FMR LLC lifted its holdings in shares of Digimarc by 201.6% during the 3rd 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 period. Institutional investors and hedge funds 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.