Immersion Corp. (IMMR) Trading Up 1.3%
Immersion Corp. (NASDAQ:IMMR) shares were up 1.3% during trading on Wednesday . The company traded as high as $7.28 and last traded at $7.27, with a volume of 93,308 shares changing hands. The stock had previously closed at $7.18.
A number of research analysts recently commented on IMMR shares. B. Riley reiterated a “buy” rating and issued a $12.00 price objective on shares of Immersion Corp. in a report on Tuesday, August 9th. Zacks Investment Research upgraded Immersion Corp. from a “hold” rating to a “buy” rating and set a $7.75 price objective on the stock in a report on Wednesday, July 6th. Finally, Craig Hallum decreased their price objective on Immersion Corp. from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, May 6th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $12.20.
The company’s market cap is $211.31 million. The firm has a 50 day moving average price of $7.18 and a 200-day moving average price of $7.38.
Immersion Corp. (NASDAQ:IMMR) last issued its quarterly earnings data on Thursday, August 4th. The company reported ($0.20) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.16) by $0.04. During the same period last year, the business posted $0.06 earnings per share. The firm had revenue of $7.90 million for the quarter, compared to analyst estimates of $11.57 million. Immersion Corp.’s quarterly revenue was down 51.2% on a year-over-year basis. On average, equities research analysts forecast that Immersion Corp. will post ($0.09) EPS for the current fiscal year.
In other Immersion Corp. news, VP Mahesh Sundaram sold 10,329 shares of Immersion Corp. 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
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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