BidaskClub upgraded shares of Immersion (NASDAQ:IMMR) from a strong sell rating to a sell rating in a research report sent to investors on Thursday, BidAskClub reports.
A number of other research firms have also issued reports on IMMR. Zacks Investment Research lowered Immersion from a buy rating to a hold rating in a research note on Wednesday, July 17th. Dougherty & Co raised Immersion from a neutral rating to a buy rating and set a $13.00 target price on the stock in a research note on Tuesday, May 14th. Finally, TheStreet lowered Immersion from a c rating to a d rating in a research note on Friday, May 31st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $10.94.
IMMR stock traded up $0.11 on Thursday, reaching $8.08. The company had a trading volume of 773,614 shares, compared to its average volume of 221,455. Immersion has a 1 year low of $7.02 and a 1 year high of $11.95. The firm’s fifty day moving average price is $7.56. The company has a market capitalization of $251.48 million, a P/E ratio of 4.64 and a beta of 1.15.
Immersion (NASDAQ:IMMR) last posted its earnings results on Thursday, August 1st. The software maker reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.09). Immersion had a negative net margin of 82.38% and a negative return on equity of 28.16%. The company had revenue of $8.70 million during the quarter, compared to analysts’ expectations of $8.68 million. During the same period in the previous year, the company posted ($0.18) EPS. Immersion’s quarterly revenue was up 42.6% compared to the same quarter last year. As a group, research analysts anticipate that Immersion will post -0.54 EPS for the current fiscal year.
In other Immersion news, major shareholder Opportunities Fund Lp Se Viex purchased 94,292 shares of the business’s stock in a transaction on Tuesday, June 18th. The stock was bought at an average cost of $7.60 per share, for a total transaction of $716,619.20. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.75% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Municipal Employees Retirement System of Michigan boosted its position in Immersion by 59.6% in the second quarter. Municipal Employees Retirement System of Michigan now owns 59,970 shares of the software maker’s stock valued at $456,000 after buying an additional 22,400 shares in the last quarter. Marshall Wace North America L.P. acquired a new position in Immersion in the first quarter valued at about $102,000. B. Riley Financial Inc. boosted its position in Immersion by 5.3% in the first quarter. B. Riley Financial Inc. now owns 20,000 shares of the software maker’s stock valued at $169,000 after buying an additional 1,000 shares in the last quarter. Martingale Asset Management L P acquired a new position in Immersion in the first quarter valued at about $636,000. Finally, Alps Advisors Inc. boosted its position in Immersion by 12.1% in the first quarter. Alps Advisors Inc. now owns 48,258 shares of the software maker’s stock valued at $407,000 after buying an additional 5,190 shares in the last quarter. Institutional investors own 75.18% 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 patent licenses, haptic technologies to original equipment manufacturers.
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