Immersion Corporation (NASDAQ:IMMR)’s share price reached a new 52-week low during mid-day trading on Monday . The company traded as low as $5.99 and last traded at $6.23, with a volume of 174500 shares trading hands. The stock had previously closed at $6.28.

A number of equities analysts have issued reports on the stock. Zacks Investment Research cut shares of Immersion Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, August 24th. B. Riley began coverage on shares of Immersion Corporation in a research report on Saturday, August 5th. They set a “buy” rating and a $9.75 price target on the stock. Cowen and Company set a $11.00 price target on shares of Immersion Corporation and gave the company a “buy” rating in a research report on Wednesday, August 2nd. Finally, ValuEngine upgraded shares of Immersion Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, September 30th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Immersion Corporation has an average rating of “Buy” and an average target price of $10.17.

Immersion Corporation (NASDAQ:IMMR) last announced its quarterly earnings results on Thursday, November 2nd. The software maker reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.16. Immersion Corporation had a negative net margin of 190.18% and a negative return on equity of 100.50%. The company had revenue of $11.90 million for the quarter, compared to analysts’ expectations of $7.33 million. During the same quarter in the previous year, the company earned $0.34 earnings per share. Immersion Corporation’s quarterly revenue was down 54.8% on a year-over-year basis. sell-side analysts forecast that Immersion Corporation will post -1.18 earnings per share for the current year.

Large investors have recently bought and sold shares of the stock. American International Group Inc. boosted its stake in Immersion Corporation by 7.1% during the first quarter. American International Group Inc. now owns 17,824 shares of the software maker’s stock worth $154,000 after acquiring an additional 1,182 shares in the last quarter. Voya Investment Management LLC boosted its stake in Immersion Corporation by 14.1% during the second quarter. Voya Investment Management LLC now owns 20,218 shares of the software maker’s stock worth $184,000 after acquiring an additional 2,501 shares in the last quarter. Tudor Investment Corp ET AL boosted its stake in Immersion Corporation by 66.5% during the first quarter. Tudor Investment Corp ET AL now owns 25,149 shares of the software maker’s stock worth $218,000 after acquiring an additional 10,046 shares in the last quarter. Sei Investments Co. bought a new stake in Immersion Corporation during the second quarter worth about $221,000. Finally, ETF Managers Group LLC bought a new stake in Immersion Corporation during the second quarter worth about $221,000. 73.19% of the stock is currently owned by institutional investors and hedge funds.

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Immersion Corporation Company Profile

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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