Shares of Immersion Co. (NASDAQ:IMMR) have been given an average rating of “Buy” by the seven brokerages that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $10.81.
IMMR has been the topic of several recent research reports. ValuEngine raised shares of Immersion from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. BidaskClub downgraded shares of Immersion from a “hold” rating to a “sell” rating in a research note on Saturday, September 28th. Zacks Investment Research raised shares of Immersion from a “hold” rating to a “buy” rating and set a $8.75 target price on the stock in a research note on Thursday, August 8th. Finally, Craig Hallum reaffirmed a “buy” rating and set a $12.00 target price (down from $14.00) on shares of Immersion in a research note on Friday, August 2nd.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. purchased a new stake in Immersion during the 2nd quarter worth approximately $63,000. Royal Bank of Canada grew its holdings in Immersion by 979.7% during the 2nd quarter. Royal Bank of Canada now owns 10,873 shares of the software maker’s stock worth $83,000 after acquiring an additional 9,866 shares in the last quarter. Tower Research Capital LLC TRC acquired a new position in Immersion during the 2nd quarter worth approximately $119,000. Rational Advisors LLC acquired a new position in Immersion during the 3rd quarter worth approximately $210,000. Finally, Tuttle Tactical Management acquired a new position in Immersion during the 3rd quarter worth approximately $292,000. 77.41% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Immersion stock traded down $0.13 on Monday, reaching $7.50. The company had a trading volume of 14,016 shares, compared to its average volume of 302,259. The firm’s 50 day moving average price is $7.91 and its two-hundred day moving average price is $8.04. The firm has a market cap of $260.13 million, a PE ratio of 4.31 and a beta of 1.20. Immersion has a 52-week low of $7.02 and a 52-week high of $10.74.
Immersion (NASDAQ:IMMR) last released its quarterly earnings results on Wednesday, November 6th. The software maker reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.09). Immersion had a negative net margin of 82.38% and a negative return on equity of 29.16%. The company had revenue of $10.60 million during the quarter, compared to analysts’ expectations of $11.34 million. During the same period last year, the firm posted ($0.07) earnings per share. Immersion’s revenue was up 23.3% on a year-over-year basis. Analysts anticipate that Immersion will post -0.54 EPS for the current fiscal year.
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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