Digimarc (NASDAQ:DMRC) Shares Up 6.7% - Here's What Happened

Shares of Digimarc Co. (NASDAQ:DMRC - Get Free Report) rose 6.7% during mid-day trading on Monday . The company traded as high as $29.50 and last traded at $29.00. Approximately 40,015 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 121,222 shares. The stock had previously closed at $27.17.

Wall Street Analyst Weigh In

DMRC has been the subject of a number of research reports. StockNews.com raised shares of Digimarc to a "sell" rating in a research note on Tuesday, September 17th. Needham & Company LLC reissued a "buy" rating and issued a $40.00 price target on shares of Digimarc in a research note on Friday.

Digimarc Price Performance

The stock's 50 day simple moving average is $29.70 and its two-hundred day simple moving average is $28.91. The firm has a market cap of $619.25 million, a P/E ratio of -14.83 and a beta of 1.68.

Hedge Funds Weigh In On Digimarc

Institutional investors and hedge funds have recently made changes to their positions in the business. Kimelman & Baird LLC bought a new position in shares of Digimarc during the second quarter valued at approximately $18,249,000. Vanguard Group Inc. increased its stake in shares of Digimarc by 1.7% during the first quarter. Vanguard Group Inc. now owns 1,169,976 shares of the information technology services provider's stock valued at $31,800,000 after purchasing an additional 19,460 shares in the last quarter. Silverberg Bernstein Capital Management LLC grew its holdings in shares of Digimarc by 4.0% during the third quarter. Silverberg Bernstein Capital Management LLC now owns 459,933 shares of the information technology services provider's stock valued at $12,363,000 after buying an additional 17,880 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Digimarc during the second quarter valued at approximately $439,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Digimarc during the second quarter valued at approximately $747,000. 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.