Digimarc (NASDAQ:DMRC) Shares Pass Below Two Hundred Day Moving Average – Should You Sell?

Digimarc Corporation (NASDAQ:DMRC)’s stock price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $7.48 and traded as low as $6.41. Digimarc shares last traded at $6.61, with a volume of 253,977 shares trading hands.

Analysts Set New Price Targets

DMRC has been the subject of several research analyst reports. Needham & Company LLC boosted their price objective on Digimarc from $10.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. Wall Street Zen upgraded shares of Digimarc from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Digimarc in a research note on Monday, April 20th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Digimarc has an average rating of “Hold” and an average target price of $15.00.

Digimarc Stock Performance

The stock has a fifty day simple moving average of $10.32 and a 200-day simple moving average of $7.47. The stock has a market cap of $153.96 million, a P/E ratio of -5.41 and a beta of 2.27.

Digimarc (NASDAQ:DMRC) last posted its quarterly earnings data on Tuesday, May 12th. The information technology services provider reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.29. Digimarc had a negative net margin of 85.75% and a negative return on equity of 21.81%. The company had revenue of $7.58 million for the quarter, compared to the consensus estimate of $7.05 million.

Hedge Funds Weigh In On Digimarc

Institutional investors have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC acquired a new position in shares of Digimarc during the 1st quarter worth approximately $128,000. Jane Street Group LLC lifted its holdings in Digimarc by 915.0% during the 1st quarter. Jane Street Group LLC now owns 69,538 shares of the information technology services provider’s stock valued at $891,000 after purchasing an additional 62,687 shares during the last quarter. Geode Capital Management LLC boosted its position in Digimarc by 1.4% during the second quarter. Geode Capital Management LLC now owns 371,835 shares of the information technology services provider’s stock worth $4,913,000 after purchasing an additional 5,191 shares during the period. JPMorgan Chase & Co. boosted its position in Digimarc by 17.8% during the second quarter. JPMorgan Chase & Co. now owns 106,375 shares of the information technology services provider’s stock worth $1,405,000 after purchasing an additional 16,106 shares during the period. Finally, Quantbot Technologies LP acquired a new position in shares of Digimarc in the second quarter valued at $190,000. 66.85% of the stock is currently owned by institutional investors and hedge funds.

About Digimarc

Digimarc Corporation is a technology company specializing in digital identification and authentication solutions. Its core offering centers on embedding imperceptible digital watermarks into images, audio, video and packaging materials. These watermarks carry unique identifiers that enable secure tracking, brand protection and content provenance across print and digital channels.

The company’s product suite includes software development kits and cloud-based services that allow enterprises to integrate digital watermarking into their existing workflows.