Immersion (IMMR) Rating Increased to Sell at BidaskClub

Immersion (NASDAQ:IMMR) was upgraded by research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a note issued to investors on Thursday.

A number of other equities research analysts have also issued reports on the company. Craig Hallum upgraded Immersion from a “hold” rating to a “buy” rating and increased their target price for the company from $14.00 to $15.00 in a research note on Wednesday, September 12th. Zacks Investment Research lowered Immersion from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 12th. Finally, ValuEngine lowered Immersion from a “hold” rating to a “sell” rating in a research note on Wednesday, September 19th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $14.06.

Shares of Immersion stock traded down $0.21 during trading hours on Thursday, reaching $10.19. The stock had a trading volume of 560,917 shares, compared to its average volume of 227,387. Immersion has a 1 year low of $5.76 and a 1 year high of $17.70.

Immersion (NASDAQ:IMMR) last released its quarterly earnings data on Thursday, November 1st. The software maker reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.02. The firm had revenue of $8.55 million during the quarter, compared to analysts’ expectations of $9.47 million. The business’s revenue for the quarter was down 27.9% compared to the same quarter last year. During the same quarter last year, the business earned ($0.13) earnings per share.

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. grew its stake in shares of Immersion by 9.6% in the second quarter. BlackRock Inc. now owns 2,057,280 shares of the software maker’s stock valued at $31,765,000 after buying an additional 179,655 shares in the last quarter. Millennium Management LLC acquired a new stake in Immersion during the 1st quarter valued at approximately $13,044,000. Northern Trust Corp grew its stake in Immersion by 6.9% during the 2nd quarter. Northern Trust Corp now owns 394,823 shares of the software maker’s stock valued at $6,096,000 after purchasing an additional 25,470 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Immersion by 233.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 343,474 shares of the software maker’s stock valued at $3,630,000 after purchasing an additional 240,374 shares in the last quarter. Finally, Dimensional Fund Advisors LP acquired a new stake in Immersion during the 2nd quarter valued at approximately $4,688,000. Institutional investors and hedge funds own 76.28% of the company’s stock.

Immersion Company Profile

Immersion Corporation creates, designs, develops, and licenses haptic technologies in North America, Europe, and Asia. Its technologies allow people to use their sense of touch when they engage with various digital products. The company offers TouchSense Lite and TouchSense Premium toolkits that enable original equipment manufacturers and their suppliers to add customized haptic technologies to their own branded devices and other products.

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