Digimarc (NASDAQ:DMRC) Shares Up 7.2% – Still a Buy?

Digimarc Co. (NASDAQ:DMRC) shot up 7.2% during trading on Tuesday . The stock traded as high as $38.19 and last traded at $38.07. 84,054 shares were traded during trading, a decline of 32% from the average session volume of 123,256 shares. The stock had previously closed at $35.50.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on DMRC shares. StockNews.com raised shares of Digimarc to a “sell” rating in a research note on Tuesday, September 17th. Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 target price on shares of Digimarc in a research note on Friday, November 15th.

Digimarc Stock Up 8.3 %

The stock’s 50 day moving average price is $32.21 and its 200-day moving average price is $30.18. The stock has a market capitalization of $823.64 million, a PE ratio of -19.52 and a beta of 1.70.

Institutional Investors Weigh In On Digimarc

Several large investors have recently added to or reduced their stakes in the stock. Kimelman & Baird LLC purchased a new position in shares of Digimarc during the second quarter worth approximately $18,249,000. Woodson Capital Management LP grew its stake in Digimarc by 18.5% in the third 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 in the last quarter. Beaconlight Capital LLC increased its holdings in Digimarc by 3.4% during the 3rd quarter. Beaconlight Capital LLC now owns 801,084 shares of the information technology services provider’s stock worth $21,533,000 after purchasing an additional 26,425 shares during the period. Squarepoint Ops LLC purchased a new position in Digimarc during the 2nd quarter worth $747,000. Finally, Silverberg Bernstein Capital Management LLC raised its position in Digimarc by 4.0% during the 3rd 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 purchasing an additional 17,880 shares in the last quarter. 66.85% of the stock is owned by hedge funds and other 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.