Digimarc (NASDAQ:DMRC) Reaches New 52-Week High – Still a Buy?

Shares of Digimarc Co. (NASDAQ:DMRC) reached a new 52-week high on Saturday . The company traded as high as $48.09 and last traded at $46.81, with a volume of 508596 shares trading hands. The stock had previously closed at $40.20.

Analysts Set New Price Targets

A number of research firms have commented on DMRC. Needham & Company LLC reissued a “buy” rating and issued a $40.00 price objective on shares of Digimarc in a research note on Friday, November 15th. StockNews.com upgraded shares of Digimarc to a “sell” rating in a research report on Tuesday, September 17th.

Digimarc Price Performance

The firm has a market capitalization of $1.00 billion, a P/E ratio of -24.01 and a beta of 1.67. The company’s 50 day moving average price is $34.56 and its 200 day moving average price is $31.24.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of DMRC. SG Americas Securities LLC acquired a new position in shares of Digimarc during the third quarter valued at $106,000. FMR LLC lifted its position 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 purchasing an additional 3,331 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Digimarc in the 2nd quarter valued at about $148,000. BNP Paribas Financial Markets boosted its stake in shares of Digimarc by 28.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 7,800 shares of the information technology services provider’s stock valued at $210,000 after purchasing an additional 1,724 shares during the last quarter. Finally, Verition Fund Management LLC bought a new stake in shares of Digimarc during the third quarter worth approximately $216,000. 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.