BidaskClub Upgrades Immersion (NASDAQ:IMMR) to “Hold”

BidaskClub upgraded shares of Immersion (NASDAQ:IMMR) from a sell rating to a hold rating in a research note released on Wednesday, BidAskClub reports.

IMMR has been the topic of several other research reports. Zacks Investment Research upgraded Immersion from a hold rating to a buy rating and set a $8.75 price objective on the stock in a research report on Thursday, August 8th. Dougherty & Co upgraded Immersion from a neutral rating to a buy rating and set a $13.00 price objective on the stock in a research report on Tuesday, May 14th. Craig Hallum reiterated a buy rating and set a $12.00 price objective (down previously from $14.00) on shares of Immersion in a research report on Friday, August 2nd. TheStreet cut Immersion from a c rating to a d rating in a research report on Friday, May 31st. Finally, ValuEngine upgraded Immersion from a hold rating to a buy rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Immersion currently has a consensus rating of Buy and a consensus price target of $10.81.

IMMR opened at $7.93 on Wednesday. Immersion has a 1-year low of $7.02 and a 1-year high of $11.95. The stock’s fifty day simple moving average is $7.66 and its 200 day simple moving average is $8.42. The stock has a market cap of $250.19 million, a PE ratio of 4.56 and a beta of 1.15.

Immersion (NASDAQ:IMMR) last posted its quarterly earnings results on Thursday, August 1st. The software maker reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.09). The business had revenue of $8.70 million during the quarter, compared to the consensus estimate of $8.68 million. Immersion had a negative net margin of 82.38% and a negative return on equity of 28.16%. The firm’s revenue was up 42.6% on a year-over-year basis. During the same quarter last year, the company posted ($0.18) EPS. Analysts predict that Immersion will post -0.54 earnings per share for the current year.

In related news, major shareholder Raging Capital Management, Llc purchased 40,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average price of $7.77 per share, for a total transaction of $310,800.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Opportunities Fund Lp Se Viex purchased 94,292 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The stock was bought at an average price of $7.60 per share, for a total transaction of $716,619.20. The disclosure for this purchase can be found here. Insiders have acquired a total of 156,791 shares of company stock worth $1,201,337 in the last quarter. Company insiders own 1.75% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. B. Riley Financial Inc. increased its position in shares of Immersion by 5.3% in the first quarter. B. Riley Financial Inc. now owns 20,000 shares of the software maker’s stock worth $169,000 after purchasing an additional 1,000 shares during the period. Northern Trust Corp boosted its stake in Immersion by 0.7% in the fourth quarter. Northern Trust Corp now owns 361,820 shares of the software maker’s stock valued at $3,241,000 after buying an additional 2,649 shares in the last quarter. Alps Advisors Inc. boosted its stake in Immersion by 12.1% in the first quarter. Alps Advisors Inc. now owns 48,258 shares of the software maker’s stock valued at $407,000 after buying an additional 5,190 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in Immersion by 49,118.2% in the first quarter. BNP Paribas Arbitrage SA now owns 5,414 shares of the software maker’s stock valued at $46,000 after buying an additional 5,403 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in Immersion by 48.9% in the fourth quarter. Bank of America Corp DE now owns 18,700 shares of the software maker’s stock valued at $167,000 after buying an additional 6,142 shares in the last quarter. Institutional investors own 74.08% of the company’s stock.

Immersion Company Profile

Immersion Corporation creates, designs, develops, and licenses haptic technologies in North America, Europe, and Asia. Its technologies allow people to use their sense of touch when they engage with various digital products. The company offers TouchSense Lite and TouchSense Premium patent licenses, haptic technologies to original equipment manufacturers.

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