Immersion Co. (IMMR) Short Interest Update

Immersion Co. (NASDAQ:IMMR) was the target of a large decline in short interest in the month of March. As of March 15th, there was short interest totalling 2,380,836 shares, a decline of 22.2% from the February 28th total of 3,060,239 shares. Currently, 8.2% of the shares of the company are sold short. Based on an average trading volume of 796,055 shares, the short-interest ratio is presently 3.0 days.

IMMR opened at $11.95 on Monday. Immersion has a 1 year low of $5.76 and a 1 year high of $12.85. The firm has a market capitalization of $352.07, a P/E ratio of -10.04, a PEG ratio of 0.72 and a beta of 1.63.

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Immersion (NASDAQ:IMMR) last posted its earnings results on Thursday, February 22nd. The software maker reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.01. Immersion had a negative net margin of 129.35% and a negative return on equity of 146.48%. The firm had revenue of $6.90 million during the quarter, compared to analysts’ expectations of $6.32 million. During the same period in the previous year, the business posted ($0.27) EPS. The business’s revenue was down 25.8% compared to the same quarter last year. research analysts anticipate that Immersion will post 1.1 earnings per share for the current year.

Several analysts have commented on IMMR shares. Dougherty & Co restated a “buy” rating and set a $14.00 price objective (up from $10.00) on shares of Immersion in a research note on Friday, February 23rd. Craig Hallum lifted their price objective on shares of Immersion from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. B. Riley restated a “buy” rating and set a $12.25 price objective on shares of Immersion in a research note on Tuesday, January 30th. Zacks Investment Research cut shares of Immersion from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. Finally, BidaskClub upgraded shares of Immersion from a “sell” rating to a “hold” rating in a research note on Friday, March 16th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. Immersion presently has a consensus rating of “Hold” and an average price target of $12.25.

In other Immersion news, CFO Nancy Erba sold 3,799 shares of Immersion stock in a transaction that occurred on Thursday, March 8th. The shares were sold at an average price of $11.87, for a total transaction of $45,094.13. Following the completion of the sale, the chief financial officer now directly owns 10,000 shares in the company, valued at approximately $118,700. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Anne Marie Peters sold 4,435 shares of Immersion stock in a transaction that occurred on Thursday, March 8th. The shares were sold at an average price of $11.87, for a total transaction of $52,643.45. Following the sale, the vice president now owns 67,545 shares of the company’s stock, valued at $801,759.15. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,179 shares of company stock valued at $251,918. Company insiders own 7.22% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Lyon Street Capital LLC acquired a new position in shares of Immersion in the 4th quarter valued at $773,000. Nokomis Capital L.L.C. lifted its stake in shares of Immersion by 69.8% in the 4th quarter. Nokomis Capital L.L.C. now owns 1,679,154 shares of the software maker’s stock valued at $11,855,000 after purchasing an additional 690,110 shares during the period. Fondren Management LP lifted its stake in shares of Immersion by 50.0% in the 4th quarter. Fondren Management LP now owns 135,000 shares of the software maker’s stock valued at $953,000 after purchasing an additional 45,000 shares during the period. Clearline Capital LP lifted its stake in shares of Immersion by 33.1% in the 4th quarter. Clearline Capital LP now owns 82,674 shares of the software maker’s stock valued at $584,000 after purchasing an additional 20,564 shares during the period. Finally, Deutsche Bank AG lifted its stake in shares of Immersion by 58.9% in the 4th quarter. Deutsche Bank AG now owns 64,017 shares of the software maker’s stock valued at $451,000 after purchasing an additional 23,738 shares during the period. Hedge funds and other institutional investors own 79.17% of the company’s stock.

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About Immersion

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 toolkits that enable original equipment manufacturers and their suppliers to add customized haptic technologies to their own branded devices and other products.

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