News headlines about Immersion (NASDAQ:IMMR) have been trending somewhat positive on Wednesday, Accern Sentiment reports. The research firm identifies negative and positive press coverage by analyzing more than 20 million news and blog sources. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Immersion earned a news sentiment score of 0.20 on Accern’s scale. Accern also assigned media coverage about the software maker an impact score of 45.0272933955577 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the immediate future.
Shares of Immersion (NASDAQ:IMMR) traded up $0.38 on Wednesday, hitting $10.18. 432,378 shares of the stock traded hands, compared to its average volume of 1,341,848. The firm has a market capitalization of $283.74, a PE ratio of -4.16, a PEG ratio of 1.85 and a beta of 1.82. Immersion has a 1-year low of $5.76 and a 1-year high of $11.85.
Several research analysts have weighed in on IMMR shares. ValuEngine raised shares of Immersion from a “strong sell” rating to a “sell” rating in a research note on Friday, December 1st. B. Riley reaffirmed a “buy” rating and set a $9.75 target price on shares of Immersion in a research note on Monday, October 30th. Craig Hallum reaffirmed a “buy” rating and set a $15.00 target price (up previously from $12.00) on shares of Immersion in a research note on Monday, January 29th. Finally, Zacks Investment Research raised shares of Immersion from a “hold” rating to a “buy” rating and set a $7.25 target price for the company in a research note on Thursday, November 9th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. Immersion currently has an average rating of “Buy” and an average price target of $11.75.
In other Immersion news, major shareholder Raging Capital Management, Llc purchased 154,997 shares of Immersion stock in a transaction dated Friday, December 1st. The shares were acquired at an average price of $7.27 per share, with a total value of $1,126,828.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have bought 1,432,482 shares of company stock worth $10,166,370 in the last three months. Corporate insiders own 7.22% of the company’s stock.
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Immersion Company Profile
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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