Analysts at Needham & Company LLC initiated coverage on Digimarc Corp. (NASDAQ: DMRC) stock, rating the company at Buy. As a means of comparison, a number of other analysts have commented on the company recently, and the company has secured a consensus one-year price target of $48.40, $38.01. Digimarc Corp.stock has a 52-week high of $44.94.After beginning or initiating coverage, analysts and brokerage firms will subsequently issue periodic updates. Changes in price targets are not unusual.
Meanwhile, U.S. stocks saw their biggest selloff since June 24, (Brexit) on Friday after comments from a voting member of the Federal Reserve’s policy-setting committee suggested a September rate hike was still a possibility.
The Dow Jones Industrial Average dropped 394 points, or 2.13% to 18085.
The S&P 500 shed 53 points, or 2.45% to 2127, while the Nasdaq Composite erased 133 points, or 2.54% to 5125.
Stocks were not alone in declines on Friday.
Global oil prices, after rallying Thursday, dropped more than 3% Friday to trade just above $45 a barrel.
Gold prices also traded lower, shedding more than 0.6% to trade around $1,332.
Share prices sometimes get a bounce to the upside when analysts inititate coverage.
Shares of Digimarc Corp. (NASDAQ: DMRC) opened at $38.01 and traded in a range between, $35.98 and $38.17 on Friday, and last traded at $36.02, which represents a change of $ -1.63 over the previous closing price.
Digimarc Corp. (NASDAQ: DMRC) now has a market cap of 310.28M
The stocks average daily volume is 85,562 shares out of a total float 6,698,000 of and some 71,283 shares traded hands yesterday, 66 percent lower than normal. Look for trading volume to pick up in the coming days as investors often use swings in trading volume to identify heavy volume accumulation or distribution by institutional investors.
While increased trading for short periods will not mean much will not mean much, conversely, a trend of heavy trading volume on the buy side over a period of days or weeks sends a positive signal to market traders that institutions may be moving in, so institutional sponsorship is very important.
Institutional sponsorship simply refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors have teams of analysts researching thousands of stocks, so it is good confirmation to see them taking a postion in a stock you are considering.
By tracking the activity of these professional investors—and the moving averages they affect—it allows for traders to make more effective decisions on trades.
With that in mind Digimarc Corp. (NASDAQ: DMRC) now has a 50-day MA is $36.09 and 200-day MA is $31.13, and it has traded in a 52-week range between $21.80 – 44.94 and today’s last price is -19.85 percent off the 52 week high.
Earnings growth is an important factor toresearch when investing in stocks and investors look for companies that have grown their earnings at least 25% or more for the past 3 years.
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