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

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

The company has a 50-day moving average price of $6.87 and a 200-day moving average price of $7.69. The firm has a market capitalization of $202.32 million and a P/E ratio of 877.50.

Immersion Corp. (NASDAQ:IMMR) last issued its quarterly earnings results on Thursday, May 5th. The company reported ($0.04) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.07) by $0.03. The business had revenue of $13.60 million for the quarter, compared to analysts’ expectations of $13.89 million. The business’s revenue was down 16.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.06 earnings per share. Equities analysts expect that Immersion Corp. will post ($0.14) earnings per share 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 stock was sold at an average price of $7.00, for a total transaction of $72,303.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 Form 13F filing with the Securities and Exchange Commission. 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 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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