Digimarc’s (DMRC) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Digimarc (NASDAQ:DMRC) in a research note published on Friday,Benzinga reports. Needham & Company LLC currently has a $40.00 price objective on the information technology services provider’s stock.

Separately, StockNews.com upgraded Digimarc to a “sell” rating in a research report on Tuesday, September 17th.

Digimarc Stock Performance

Shares of DMRC stock opened at $27.17 on Friday. Digimarc has a fifty-two week low of $21.00 and a fifty-two week high of $43.43. The stock’s fifty day moving average price is $29.70 and its two-hundred day moving average price is $28.87. The company has a market cap of $581.98 million, a PE ratio of -13.93 and a beta of 1.68.

Institutional Investors Weigh In On Digimarc

Hedge funds and other institutional investors have recently bought and sold shares of the company. West Branch Capital LLC acquired a new stake in shares of Digimarc during the second quarter valued at about $62,000. nVerses Capital LLC acquired a new stake in Digimarc during the 2nd quarter worth approximately $62,000. SG Americas Securities LLC bought a new stake in Digimarc during the 3rd quarter worth approximately $106,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Digimarc in the 2nd quarter valued at approximately $148,000. Finally, FMR LLC raised its stake in shares of Digimarc by 201.6% during the third quarter. FMR LLC now owns 4,983 shares of the information technology services provider’s stock valued at $134,000 after acquiring an additional 3,331 shares during the last quarter. 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.