Digimarc (NASDAQ:DMRC) Shares Down 8% – Time to Sell?

Digimarc Co. (NASDAQ:DMRC) shares fell 8% on Tuesday . The company traded as low as $33.00 and last traded at $32.29. 68,001 shares traded hands during trading, a decline of 59% from the average session volume of 166,957 shares. The stock had previously closed at $35.11.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC reiterated a “buy” rating and set a $40.00 price objective on shares of Digimarc in a research note on Friday, November 15th.

Digimarc Stock Down 1.4 %

The stock has a market cap of $619.47 million, a price-to-earnings ratio of -14.83 and a beta of 1.66. The company’s 50-day simple moving average is $38.25 and its 200-day simple moving average is $32.84.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. KLP Kapitalforvaltning AS acquired a new position in Digimarc in the 4th quarter worth approximately $105,000. SG Americas Securities LLC acquired a new position in Digimarc in the 3rd quarter worth approximately $106,000. Tower Research Capital LLC TRC boosted its stake in Digimarc by 469.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,951 shares of the information technology services provider’s stock worth $111,000 after purchasing an additional 2,433 shares during the period. FMR LLC boosted its stake in Digimarc by 201.6% in the 3rd quarter. FMR LLC now owns 4,983 shares of the information technology services provider’s stock worth $134,000 after purchasing an additional 3,331 shares during the period. Finally, BNP Paribas Financial Markets boosted its stake in Digimarc by 28.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 7,800 shares of the information technology services provider’s stock worth $210,000 after purchasing an additional 1,724 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.