Digimarc (NASDAQ:DMRC) Shares Cross Above 200-Day Moving Average - Time to Sell?

Digimarc Co. (NASDAQ:DMRC - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $28.19 and traded as high as $32.38. Digimarc shares last traded at $32.18, with a volume of 68,708 shares changing hands.

Analyst Ratings Changes

Several equities analysts recently commented on DMRC shares. Needham & Company LLC reiterated a "buy" rating and set a $40.00 price target on shares of Digimarc in a report on Wednesday, August 14th. StockNews.com upgraded shares of Digimarc to a "sell" rating in a report on Tuesday, September 17th.

Digimarc Stock Performance

The firm has a market capitalization of $689.30 million, a P/E ratio of -16.25 and a beta of 1.68. The stock's 50 day simple moving average is $28.85 and its 200 day simple moving average is $28.19.

Digimarc (NASDAQ:DMRC - Get Free Report) last issued its earnings results on Tuesday, August 13th. The information technology services provider reported ($0.23) EPS for the quarter, topping analysts' consensus estimates of ($0.27) by $0.04. The business had revenue of $10.38 million for the quarter. Digimarc had a negative net margin of 105.98% and a negative return on equity of 41.60%.

Hedge Funds Weigh In On Digimarc

A number of hedge funds have recently added to or reduced their stakes in the stock. Kimelman & Baird LLC purchased a new stake in shares of Digimarc in the 2nd quarter worth approximately $18,249,000. Beaconlight Capital LLC lifted its position in shares of Digimarc by 34.7% in the 1st quarter. Beaconlight Capital LLC now owns 778,017 shares of the information technology services provider's stock worth $21,147,000 after purchasing an additional 200,251 shares during the period. Woodson Capital Management LP purchased a new stake in shares of Digimarc in the 1st quarter worth approximately $2,718,000. Squarepoint Ops LLC purchased a new stake in Digimarc during the second quarter valued at approximately $747,000. Finally, Vanguard Group Inc. lifted its position in 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 acquiring an additional 19,460 shares during the last quarter. 66.85% of the stock is currently owned by institutional investors.

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.