Digimarc (NASDAQ:DMRC) Trading 7.7% Higher – Should You Buy?

Digimarc Co. (NASDAQ:DMRC)’s stock price rose 7.7% during trading on Friday . The company traded as high as $43.31 and last traded at $43.31. Approximately 48,954 shares traded hands during mid-day trading, a decline of 59% from the average daily volume of 119,857 shares. The stock had previously closed at $40.20.

Analyst Ratings Changes

Several brokerages have weighed in on DMRC. StockNews.com raised Digimarc to a “sell” rating in a research note on Tuesday, September 17th. Needham & Company LLC reissued a “buy” rating and set a $40.00 target price on shares of Digimarc in a research report on Friday, November 15th.

Digimarc Trading Up 16.4 %

The stock has a market capitalization of $1.00 billion, a PE ratio of -24.01 and a beta of 1.67. The business’s 50 day moving average is $34.56 and its 200 day moving average is $31.21.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. boosted its holdings in Digimarc by 41.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 9,187 shares of the information technology services provider’s stock valued at $247,000 after acquiring an additional 2,695 shares during the period. Barclays PLC lifted its position in shares of Digimarc by 240.9% during the third quarter. Barclays PLC now owns 25,172 shares of the information technology services provider’s stock worth $677,000 after purchasing an additional 17,788 shares during the last quarter. Verition Fund Management LLC purchased a new stake in shares of Digimarc during the third quarter valued at $216,000. Woodson Capital Management LP grew its holdings in shares of Digimarc by 18.5% in the third quarter. Woodson Capital Management LP now owns 455,664 shares of the information technology services provider’s stock worth $12,248,000 after purchasing an additional 71,126 shares during the last quarter. Finally, PEAK6 Investments LLC purchased a new position in Digimarc in the 3rd quarter worth about $292,000. 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.