Immersion Sees Unusually High Options Volume (IMMR)

Immersion Corporation (NASDAQ:IMMR) was the recipient of some unusual options trading activity on Tuesday. Investors bought 1,564 call options on the company. This represents an increase of approximately 971% compared to the average daily volume of 146 call options.

Immersion (IMMR) opened at $7.40 on Tuesday. Immersion has a 1-year low of $5.76 and a 1-year high of $11.92.

Immersion (NASDAQ:IMMR) last released its earnings results on Thursday, November 2nd. The software maker reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.16. Immersion had a negative net margin of 190.18% and a negative return on equity of 100.50%. The firm had revenue of $11.90 million for the quarter, compared to analyst estimates of $7.33 million. During the same period last year, the firm earned $0.34 EPS. The business’s quarterly revenue was down 54.8% compared to the same quarter last year. equities research analysts forecast that Immersion will post -1.12 earnings per share for the current fiscal year.

IMMR has been the subject of a number of recent analyst reports. B. Riley began coverage on shares of Immersion in a research note on Thursday, August 10th. They issued a “buy” rating and a $9.75 price target for the company. Zacks Investment Research raised shares of Immersion from a “hold” rating to a “buy” rating and set a $7.25 price objective on the stock in a research report on Thursday, November 9th. Finally, ValuEngine raised shares of Immersion from a “sell” rating to a “hold” rating in a research report on Saturday, September 30th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. Immersion currently has an average rating of “Buy” and a consensus price target of $10.17.

Several institutional investors and hedge funds have recently bought and sold shares of IMMR. University of Notre Dame DU Lac acquired a new stake in shares of Immersion in the 3rd quarter valued at approximately $5,810,000. Vident Investment Advisory LLC boosted its position in Immersion by 60.9% during the 3rd quarter. Vident Investment Advisory LLC now owns 1,393,439 shares of the software maker’s stock worth $11,384,000 after buying an additional 527,185 shares during the period. Cooper Creek Partners Management LLC acquired a new stake in Immersion during the 2nd quarter worth approximately $3,827,000. PEAK6 Investments L.P. boosted its position in Immersion by 265.8% during the 3rd quarter. PEAK6 Investments L.P. now owns 201,832 shares of the software maker’s stock worth $1,649,000 after buying an additional 146,653 shares during the period. Finally, GSA Capital Partners LLP acquired a new stake in Immersion during the 3rd quarter worth approximately $1,179,000. Institutional investors own 78.98% of the company’s stock.

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About Immersion

Immersion Corporation is a licensing company focused on the creation, design, development and licensing of haptic technologies that allow people to use their sense of touch when operating digital devices. The Company develops, licenses and supports a range of software and intellectual property (IP). It is focused on the markets, including mobile devices, wearables, consumer, mobile entertainment and other content; console gaming; automotive; medical, and commercial.

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