Immersion Co. (NASDAQ:IMMR) has received a consensus rating of “Hold” from the seven ratings firms that are presently covering the firm, reports. Two research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $11.50.

A number of equities research analysts have weighed in on IMMR shares. ValuEngine cut shares of Immersion from a “buy” rating to a “hold” rating in a report on Thursday, November 21st. Zacks Investment Research lowered shares of Immersion from a “hold” rating to a “sell” rating in a report on Thursday. Finally, BidaskClub cut Immersion from a “hold” rating to a “sell” rating in a research report on Saturday, September 28th.

Immersion stock opened at $6.62 on Friday. The stock’s 50 day simple moving average is $7.53 and its two-hundred day simple moving average is $7.74. The stock has a market cap of $210.49 million, a price-to-earnings ratio of 3.80 and a beta of 1.13. Immersion has a fifty-two week low of $6.40 and a fifty-two week high of $10.74.

Immersion (NASDAQ:IMMR) last released its earnings results on Wednesday, November 6th. The software maker reported ($0.04) EPS for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.09). Immersion had a negative net margin of 68.35% and a negative return on equity of 26.66%. The firm had revenue of $10.60 million during the quarter, compared to analysts’ expectations of $11.34 million. During the same quarter in the previous year, the business earned ($0.07) EPS. The company’s revenue for the quarter was up 23.3% compared to the same quarter last year. As a group, equities analysts forecast that Immersion will post -0.67 EPS for the current year.

Hedge funds have recently made changes to their positions in the stock. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. purchased a new stake in Immersion during the 2nd quarter valued at about $63,000. Royal Bank of Canada raised its holdings in Immersion by 979.7% in the second quarter. Royal Bank of Canada now owns 10,873 shares of the software maker’s stock worth $83,000 after buying an additional 9,866 shares during the last quarter. Metropolitan Life Insurance Co NY purchased a new position in Immersion in the third quarter worth about $84,000. Tower Research Capital LLC TRC purchased a new position in Immersion in the second quarter worth about $119,000. Finally, Rational Advisors LLC purchased a new stake in shares of Immersion during the third quarter valued at approximately $210,000. 75.92% of the stock is currently owned by institutional investors.

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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