Immersion Corp. (IMMR) Trading 4.6% Higher
Shares of Immersion Corp. (NASDAQ:IMMR) traded up 4.6% during mid-day trading on Thursday . The stock traded as high as $6.89 and last traded at $6.84, with a volume of 160,316 shares trading hands. The stock had previously closed at $6.54.
Several analysts have issued reports on the company. 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 research note on Wednesday, July 6th. B. Riley restated a “buy” rating and issued a $13.00 price objective on shares of Immersion Corp. in a research note on Saturday, May 7th. Finally, Craig Hallum upped their target price on Immersion Corp. from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Tuesday, July 19th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. Immersion Corp. currently has an average rating of “Buy” and an average price target of $12.20.
The stock’s market cap is $204.08 million. The company’s 50-day moving average is $7.15 and its 200-day moving average is $7.40.
Immersion Corp. (NASDAQ:IMMR) last released 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. The business earned $7.90 million during the quarter, compared to analyst estimates of $11.57 million. The business’s revenue was down 51.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.06 EPS. On average, analysts expect 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 dated 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 filing with the Securities & Exchange Commission, which is available at 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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