Digimarc (NASDAQ:DMRC) Shares Gap Up – Here’s What Happened

Shares of Digimarc Co. (NASDAQ:DMRC) gapped up before the market opened on Monday . The stock had previously closed at $27.46, but opened at $29.81. Digimarc shares last traded at $26.05, with a volume of 107,951 shares trading hands.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC restated a “buy” rating and issued a $40.00 price target on shares of Digimarc in a research report on Friday, November 15th.

Digimarc Stock Up 0.3 %

The firm has a 50-day moving average of $37.70 and a two-hundred day moving average of $32.87. The stock has a market capitalization of $576.87 million, a price-to-earnings ratio of -13.81 and a beta of 1.66.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DMRC. Barclays PLC grew its holdings in shares of Digimarc by 240.9% during the 3rd quarter. Barclays PLC now owns 25,172 shares of the information technology services provider’s stock valued at $677,000 after acquiring an additional 17,788 shares in the last quarter. Moody National Bank Trust Division acquired a new stake in shares of Digimarc during the 4th quarter valued at about $574,000. Woodson Capital Management LP grew its stake in shares of Digimarc by 18.5% in the 3rd quarter. Woodson Capital Management LP now owns 455,664 shares of the information technology services provider’s stock valued at $12,248,000 after buying an additional 71,126 shares in the last quarter. FMR LLC increased its holdings in 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 buying an additional 3,331 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in Digimarc by 41.5% in the third quarter. JPMorgan Chase & Co. now owns 9,187 shares of the information technology services provider’s stock worth $247,000 after acquiring an additional 2,695 shares in the last quarter. 66.85% of the stock is owned by hedge funds and other institutional investors.

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.