Digimarc (NASDAQ:DMRC) Shares Pass Above 200-Day Moving Average - What's Next?

Digimarc Co. (NASDAQ:DMRC - Get Free Report) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $32.53 and traded as high as $42.02. Digimarc shares last traded at $40.11, with a volume of 115,323 shares changing hands.

Analyst Upgrades and Downgrades

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

Digimarc Stock Down 1.7 %

The stock has a market cap of $859.16 million, a P/E ratio of -20.57 and a beta of 1.67. The firm has a 50 day moving average price of $37.75 and a 200 day moving average price of $32.54.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC purchased a new position in shares of Digimarc in the third quarter valued at about $106,000. FMR LLC grew its holdings in Digimarc by 201.6% during the 3rd quarter. FMR LLC now owns 4,983 shares of the information technology services provider's stock valued at $134,000 after buying an additional 3,331 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of Digimarc by 28.4% during the third quarter. BNP Paribas Financial Markets now owns 7,800 shares of the information technology services provider's stock valued at $210,000 after buying an additional 1,724 shares during the last quarter. Verition Fund Management LLC purchased a new position in shares of Digimarc in the third quarter worth $216,000. Finally, JPMorgan Chase & Co. boosted its position in shares of Digimarc by 41.5% during 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 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.