Immersion Corp. (IMMR) Trading 5.3% Higher
Immersion Corp. (NASDAQ:IMMR)’s share price traded up 5.3% during trading on Monday . The company traded as high as $7.41 and last traded at $7.39, with a volume of 362,526 shares. The stock had previously closed at $7.02.
A number of equities analysts have commented on the company. Craig Hallum boosted their price objective on Immersion Corp. from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday. Zacks Investment Research lowered Immersion Corp. from a “buy” rating to a “hold” rating in a research note on Friday, July 8th. B. Riley reissued a “buy” rating and issued a $13.00 price objective on shares of Immersion Corp. in a research note on Thursday, May 12th. Finally, Lake Street Capital assumed coverage on Immersion Corp. in a research note on Monday, April 18th. They issued a “buy” rating and a $11.25 price objective on the stock. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $12.40.
The stock has a market cap of $233.74 million and a price-to-earnings ratio of 1013.75. The stock’s 50-day moving average is $6.95 and its 200 day moving average is $7.60.
Immersion Corp. (NASDAQ:IMMR) last announced its earnings results on Thursday, May 5th. The company reported ($0.04) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.03. The firm had revenue of $13.60 million for the quarter, compared to the consensus estimate of $13.89 million. Immersion Corp.’s revenue for the quarter was down 16.6% on a year-over-year basis. During the same quarter last year, the business posted $0.06 EPS. On average, equities research analysts forecast that Immersion Corp. will post ($0.14) EPS for the current fiscal year.
In other Immersion Corp. news, VP Mahesh Sundaram sold 10,329 shares of the firm’s stock in a transaction on Tuesday, June 21st. The stock was sold at an average price of $7.00, for a total transaction of $72,303.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
A hedge fund recently raised its stake 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 13F filing with the Securities and Exchange Commission (SEC). The firm owned 109,205 shares of the company’s stock after buying an additional 25,366 shares during the period. GSA Capital Partners LLP owned 0.39% of Immersion Corp. worth $1,273,000 at the end of the most recent quarter.
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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