Immersion Corp. (IMMR) Stock Price Down 4%
Immersion Corp. (NASDAQ:IMMR) fell 4% during mid-day trading on Thursday . The stock traded as low as $7.69 and last traded at $7.69, with a volume of 138,563 shares traded. The stock had previously closed at $8.01.
Several brokerages have issued reports on IMMR. Lake Street Capital began coverage on shares of Immersion Corp. in a research report on Monday, April 18th. They set a “buy” rating and a $11.25 price objective for the company. Craig Hallum raised their price objective on shares of Immersion Corp. from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Tuesday. B. Riley restated a “buy” rating and set a $13.00 price objective on shares of Immersion Corp. in a research report on Monday, May 2nd. Finally, Zacks Investment Research cut shares of Immersion Corp. from a “buy” rating to a “hold” rating in a report on Friday, July 8th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Immersion Corp. has a consensus rating of “Buy” and an average target price of $12.40.
The firm has a market cap of $220.77 million and a P/E ratio of 957.50. The company has a 50-day moving average of $7.06 and a 200 day moving average of $7.59.
Immersion Corp. (NASDAQ:IMMR) last posted its earnings results on Thursday, May 5th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.03. The business had revenue of $13.60 million for the quarter, compared to the consensus estimate of $13.89 million. The company’s revenue was down 16.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.06 earnings per share. Equities analysts predict that Immersion Corp. will post ($0.15) EPS for the current fiscal year.
In other Immersion Corp. news, VP Mahesh Sundaram sold 10,329 shares of the company’s stock in a transaction dated 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
An institutional investor recently raised its position in Immersion Corp. stock. GSA Capital Partners LLP boosted its position in Immersion Corp. (NASDAQ:IMMR) by 30.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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 approximately 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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