Several analysts have recently updated their ratings and price targets for Immersion (NASDAQ: IMMR):
- 5/18/2021 – Immersion was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “IMMERSION CORP. develops hardware and software technologies that enable users to interact with computers using their sense of touch. Their patented technologies, which are branded TouchSense, enable devices such as mice, joysticks, knobs, and medical simulation products to deliver tactile sensations that correspond to on-screen events. They focus on four application areas: computing and entertainment, medical simulation, professional and industrial, and three-dimensional capture and interaction. “
- 5/17/2021 – Immersion was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “buy” rating. They now have a $8.25 price target on the stock. According to Zacks, “IMMERSION CORP. develops hardware and software technologies that enable users to interact with computers using their sense of touch. Their patented technologies, which are branded TouchSense, enable devices such as mice, joysticks, knobs, and medical simulation products to deliver tactile sensations that correspond to on-screen events. They focus on four application areas: computing and entertainment, medical simulation, professional and industrial, and three-dimensional capture and interaction. “
- 5/11/2021 – Immersion was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “IMMERSION CORP. develops hardware and software technologies that enable users to interact with computers using their sense of touch. Their patented technologies, which are branded TouchSense, enable devices such as mice, joysticks, knobs, and medical simulation products to deliver tactile sensations that correspond to on-screen events. They focus on four application areas: computing and entertainment, medical simulation, professional and industrial, and three-dimensional capture and interaction. “
- 5/7/2021 – Immersion was downgraded by analysts at TheStreet from a “b-” rating to a “c” rating.
- 5/5/2021 – Immersion was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “IMMERSION CORP. develops hardware and software technologies that enable users to interact with computers using their sense of touch. Their patented technologies, which are branded TouchSense, enable devices such as mice, joysticks, knobs, and medical simulation products to deliver tactile sensations that correspond to on-screen events. They focus on four application areas: computing and entertainment, medical simulation, professional and industrial, and three-dimensional capture and interaction. “
NASDAQ IMMR traded up $0.16 during trading hours on Thursday, reaching $7.96. 555,319 shares of the company’s stock were exchanged, compared to its average volume of 998,566. The company has a market capitalization of $245.85 million, a price-to-earnings ratio of -159.20, a price-to-earnings-growth ratio of 1.88 and a beta of 1.96. The company’s 50-day moving average is $8.61 and its two-hundred day moving average is $10.05. Immersion Co. has a one year low of $5.67 and a one year high of $16.64.
Immersion (NASDAQ:IMMR) last issued its quarterly earnings data on Thursday, May 6th. The software maker reported $0.10 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.10. The company had revenue of $7.16 million during the quarter. Immersion had a negative net margin of 5.51% and a positive return on equity of 0.24%. Analysts predict that Immersion Co. will post 0.11 EPS for the current year.
In other news, CEO Jared Smith sold 2,750 shares of Immersion stock in a transaction that occurred on Wednesday, March 17th. The shares were sold at an average price of $10.13, for a total value of $27,857.50. Following the sale, the chief executive officer now directly owns 62,284 shares in the company, valued at $630,936.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Opportunities Fund Lp Se Viex sold 496,837 shares of the business’s stock in a transaction on Friday, February 19th. The stock was sold at an average price of $12.78, for a total transaction of $6,349,576.86. In the last quarter, insiders have sold 703,026 shares of company stock valued at $8,507,936. Corporate insiders own 31.30% of the company’s stock.
Large investors have recently modified their holdings of the business. Virtu Financial LLC boosted its stake in shares of Immersion by 344.3% during the 1st quarter. Virtu Financial LLC now owns 57,976 shares of the software maker’s stock worth $555,000 after buying an additional 44,928 shares during the last quarter. Squarepoint Ops LLC boosted its position in Immersion by 1,468.5% during the first quarter. Squarepoint Ops LLC now owns 477,089 shares of the software maker’s stock valued at $4,571,000 after purchasing an additional 446,673 shares during the last quarter. Paloma Partners Management Co bought a new position in Immersion in the first quarter valued at approximately $386,000. Millennium Management LLC increased its position in shares of Immersion by 338.9% during the 1st quarter. Millennium Management LLC now owns 540,977 shares of the software maker’s stock worth $5,183,000 after purchasing an additional 417,714 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. raised its stake in shares of Immersion by 280.8% during the 1st quarter. D. E. Shaw & Co. Inc. now owns 362,745 shares of the software maker’s stock worth $3,475,000 after purchasing an additional 267,491 shares in the last quarter. 72.00% of the stock is currently owned by hedge funds and other institutional investors.
Immersion Corporation, together with its subsidiaries, creates, designs, develops, and licenses haptic technologies that allow people to use their sense of touch to engage with and experience various digital products in North America, Europe, and Asia. The company provides technology, patent, and combined licenses.
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