Immersion Corp. (NASDAQ:IMMR) shares traded down 3.1% on Thursday . The stock traded as low as $6.91 and last traded at $6.99, with a volume of 180,651 shares. The stock had previously closed at $7.21.

Several research analysts recently weighed in on the company. Zacks Investment Research raised Immersion Corp. from a “hold” rating to a “buy” rating and set a $7.75 target price on the stock in a research report on Wednesday, July 6th. Lake Street Capital initiated coverage on Immersion Corp. in a research report on Monday, April 18th. They issued a “buy” rating and a $11.25 price objective on the stock. B. Riley reissued a “buy” rating and issued a $13.00 price objective on shares of Immersion Corp. in a research report on Saturday, May 7th. Finally, Craig Hallum cut their price objective on Immersion Corp. from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, May 6th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $12.00.

The firm’s 50 day moving average is $6.84 and its 200 day moving average is $7.73. The firm has a market capitalization of $200.02 million and a P/E ratio of 867.50.

Immersion Corp. (NASDAQ:IMMR) last announced its quarterly earnings data on Thursday, May 5th. The company reported ($0.04) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.03. The business earned $13.60 million during the quarter, compared to analyst estimates of $13.89 million. During the same quarter in the prior year, the company earned $0.06 earnings per share. The company’s quarterly revenue was down 16.6% on a year-over-year basis. Analysts predict that Immersion Corp. will post ($0.14) EPS for the current fiscal year.

In related news, VP Mahesh Sundaram sold 10,329 shares of the stock in a transaction that occurred on Tuesday, June 21st. The shares were sold at an average price of $7.00, for a total value of $72,303.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

An institutional investor recently raised its position in Immersion Corp. stock. GSA Capital Partners LLP raised its stake in shares of Immersion Corp. (NASDAQ:IMMR) by 30.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 109,205 shares of the company’s stock after buying an additional 25,366 shares during the period. GSA Capital Partners LLP owned approximately 0.39% of Immersion Corp. worth $1,273,000 as of its most recent SEC filing.

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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