A number of other research firms have also recently commented on IMMR. BidaskClub upgraded Immersion from a “strong sell” rating to a “sell” rating in a research note on Thursday. Dougherty & Co upgraded Immersion from a “neutral” rating to a “buy” rating and set a $13.00 target price on the stock in a research note on Tuesday, May 14th. TheStreet cut Immersion from a “c” rating to a “d” rating in a research note on Friday, May 31st. Finally, Zacks Investment Research cut Immersion from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. Immersion presently has a consensus rating of “Hold” and an average price target of $10.94.
NASDAQ IMMR traded up $0.11 during mid-day trading on Thursday, hitting $8.08. The company’s stock had a trading volume of 773,614 shares, compared to its average volume of 221,455. The firm’s 50 day moving average price is $7.56. Immersion has a twelve month low of $7.02 and a twelve month high of $11.95. The stock has a market capitalization of $251.48 million, a price-to-earnings ratio of 4.64 and a beta of 1.15.
In other news, major shareholder Opportunities Fund Lp Se Viex acquired 94,292 shares of the stock in a transaction that occurred on Tuesday, June 18th. The shares were acquired at an average cost of $7.60 per share, for a total transaction of $716,619.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.75% of the company’s stock.
A number of institutional investors have recently made changes to their positions in IMMR. Municipal Employees Retirement System of Michigan raised its position in shares of Immersion by 59.6% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 59,970 shares of the software maker’s stock worth $456,000 after acquiring an additional 22,400 shares in the last quarter. Marshall Wace North America L.P. bought a new position in shares of Immersion in the 1st quarter worth $102,000. B. Riley Financial Inc. raised its position in shares of Immersion by 5.3% in the 1st quarter. B. Riley Financial Inc. now owns 20,000 shares of the software maker’s stock worth $169,000 after acquiring an additional 1,000 shares in the last quarter. Martingale Asset Management L P bought a new position in shares of Immersion in the 1st quarter worth $636,000. Finally, Alps Advisors Inc. raised its position in shares of Immersion by 12.1% in the 1st quarter. Alps Advisors Inc. now owns 48,258 shares of the software maker’s stock worth $407,000 after acquiring an additional 5,190 shares in the last quarter. Institutional investors and hedge funds own 75.18% 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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