Digimarc (NASDAQ:DMRC) Stock Crosses Above 200-Day Moving Average - Here's What Happened

Shares of Digimarc Co. (NASDAQ:DMRC - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $31.89 and traded as high as $41.93. Digimarc shares last traded at $40.07, with a volume of 204,836 shares traded.

Analysts Set New Price Targets

Several equities analysts have recently commented on DMRC shares. StockNews.com upgraded Digimarc to a "sell" rating in a research note on Tuesday, September 17th. Needham & Company LLC restated a "buy" rating and issued a $40.00 price target on shares of Digimarc in a report on Friday, November 15th.

Digimarc Price Performance

The company has a market cap of $874.36 million, a P/E ratio of -20.93 and a beta of 1.70. The business has a 50-day moving average of $36.00 and a two-hundred day moving average of $31.89.

Institutional Trading of Digimarc

Several hedge funds and other institutional investors have recently made changes to their positions in DMRC. Rhumbline Advisers raised its holdings in shares of Digimarc by 3.3% in the second quarter. Rhumbline Advisers now owns 21,683 shares of the information technology services provider's stock worth $672,000 after buying an additional 693 shares during the last quarter. Curi RMB Capital LLC increased its holdings in shares of Digimarc by 0.7% in the third quarter. Curi RMB Capital LLC now owns 117,821 shares of the information technology services provider's stock valued at $3,167,000 after purchasing an additional 843 shares during the period. BNP Paribas Financial Markets raised its stake in shares of Digimarc by 28.4% in the third quarter. BNP Paribas Financial Markets now owns 7,800 shares of the information technology services provider's stock worth $210,000 after purchasing an additional 1,724 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings 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 purchasing an additional 2,695 shares during the period. Finally, FMR LLC boosted its position in Digimarc by 201.6% in the third 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 during the last quarter. Hedge funds and other institutional investors own 66.85% of the company's stock.

About Digimarc

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.