Shares of Immersion Co. (NASDAQ:IMMR) have been assigned a consensus recommendation of “Hold” from the seven analysts that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $11.69.
A number of brokerages recently weighed in on IMMR. Zacks Investment Research upgraded Immersion from a “hold” rating to a “buy” rating and set a $9.25 target price on the stock in a report on Saturday, May 18th. TheStreet cut Immersion from a “c” rating to a “d” rating in a report on Friday, May 31st. BidaskClub cut Immersion from a “sell” rating to a “strong sell” rating in a report on Saturday, February 23rd. B. Riley reiterated a “neutral” rating and issued a $9.50 target price (down previously from $18.00) on shares of Immersion in a report on Friday, February 22nd. Finally, Dougherty & Co upgraded Immersion from a “neutral” rating to a “buy” rating and set a $13.00 target price on the stock in a report on Tuesday, May 14th.
A number of large investors have recently added to or reduced their stakes in the business. B. Riley Financial Inc. raised 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 purchasing an additional 1,000 shares during the period. Northern Trust Corp increased its position in shares of Immersion by 0.7% during the fourth quarter. Northern Trust Corp now owns 361,820 shares of the software maker’s stock worth $3,241,000 after acquiring an additional 2,649 shares during the last quarter. Alps Advisors Inc. increased its position in shares of Immersion by 12.1% during the first quarter. Alps Advisors Inc. now owns 48,258 shares of the software maker’s stock worth $407,000 after acquiring an additional 5,190 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Immersion by 49,118.2% during the first quarter. BNP Paribas Arbitrage SA now owns 5,414 shares of the software maker’s stock worth $46,000 after acquiring an additional 5,403 shares during the last quarter. Finally, Bank of America Corp DE increased its position in shares of Immersion by 48.9% during the fourth quarter. Bank of America Corp DE now owns 18,700 shares of the software maker’s stock worth $167,000 after acquiring an additional 6,142 shares during the last quarter. 75.87% of the stock is currently owned by institutional investors.
Immersion stock traded down $0.03 during midday trading on Friday, reaching $7.27. The stock had a trading volume of 5,668 shares, compared to its average volume of 459,867. Immersion has a twelve month low of $7.02 and a twelve month high of $17.65. The stock has a market capitalization of $229.08 million, a P/E ratio of 4.18 and a beta of 1.20.
Immersion (NASDAQ:IMMR) last issued its earnings results on Monday, May 13th. The software maker reported ($0.35) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.34) by ($0.01). Immersion had a negative net margin of 86.54% and a negative return on equity of 27.08%. The firm had revenue of $5.10 million during the quarter, compared to analyst estimates of $5.10 million. During the same quarter in the previous year, the business posted $2.34 EPS. Immersion’s revenue was down 94.0% compared to the same quarter last year. As a group, analysts predict that Immersion will post -0.53 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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