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

Digimarc Co. (NASDAQ:DMRC)’s stock price dropped 8% during mid-day trading on Tuesday . The company traded as low as $33.00 and last traded at $32.29. Approximately 68,001 shares changed hands during trading, a decline of 59% from the average daily volume of 166,957 shares. The stock had previously closed at $35.11.

Analyst Ratings Changes

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

Digimarc Stock Performance

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of DMRC. Granahan Investment Management LLC bought a new position in Digimarc in the 4th quarter worth $9,341,000. Woodson Capital Management LP increased its holdings in shares of Digimarc by 18.5% during the 3rd 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 period. Samjo Management LLC increased its holdings in shares of Digimarc by 79.4% during the 4th quarter. Samjo Management LLC now owns 135,296 shares of the information technology services provider’s stock worth $5,067,000 after purchasing an additional 59,896 shares during the period. D. E. Shaw & Co. Inc. increased its holdings in shares of Digimarc by 93.3% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 105,028 shares of the information technology services provider’s stock worth $3,933,000 after purchasing an additional 50,690 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of Digimarc by 528.2% during the 4th quarter. JPMorgan Chase & Co. now owns 57,717 shares of the information technology services provider’s stock worth $2,162,000 after purchasing an additional 48,530 shares during the period. 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.