Immersion Corp. (IMMR) Shares Up 1.3%
Immersion Corp. (NASDAQ:IMMR) shot up 1.3% during mid-day trading on Wednesday . The company traded as high as $7.28 and last traded at $7.27, with a volume of 93,308 shares traded. The stock had previously closed at $7.18.
IMMR has been the topic of a number of research analyst reports. B. Riley reiterated a “buy” rating and issued a $13.00 target price on shares of Immersion Corp. in a research note on Thursday, May 12th. Zacks Investment Research cut shares of Immersion Corp. from a “buy” rating to a “hold” rating in a research note on Friday, July 29th. Finally, Craig Hallum boosted their target price on shares of Immersion Corp. from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Tuesday, July 19th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $12.20.
The company’s 50 day moving average price is $7.18 and its 200 day moving average price is $7.38. The firm’s market cap is $209.86 million.
Immersion Corp. (NASDAQ:IMMR) last issued its quarterly earnings results on Thursday, August 4th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by $0.04. During the same period in the prior year, the business posted $0.06 earnings per share. The company had revenue of $7.90 million for the quarter, compared to the consensus estimate of $11.57 million. Immersion Corp.’s revenue for the quarter was down 51.2% compared to the same quarter last year. On average, equities analysts predict that Immersion Corp. will post ($0.09) earnings per share for the current fiscal year.
In related news, VP Mahesh Sundaram sold 10,329 shares of Immersion Corp. stock in a transaction dated Tuesday, June 21st. The shares were sold at an average price of $7.00, for a total transaction of $72,303.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
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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