Immersion (IMMR) Rating Lowered to Sell at BidaskClub

BidaskClub cut shares of Immersion (NASDAQ:IMMR) from a hold rating to a sell rating in a research report report published on Friday.

A number of other brokerages also recently weighed in on IMMR. ValuEngine raised shares of Immersion from a strong sell rating to a sell rating in a research note on Friday, December 1st. Craig Hallum raised shares of Immersion from a hold rating to a buy rating and raised their target price for the company from $8.00 to $12.00 in a research note on Tuesday, January 16th. Zacks Investment Research downgraded shares of Immersion from a hold rating to a sell rating in a research note on Saturday, February 24th. Dougherty & Co reaffirmed a buy rating and issued a $14.00 target price (up from $10.00) on shares of Immersion in a research note on Friday, February 23rd. Finally, B. Riley reaffirmed a buy rating and issued a $12.25 target price on shares of Immersion in a research note on Tuesday, January 30th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. Immersion has an average rating of Hold and an average price target of $12.25.

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

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

In other Immersion news, VP Anne Marie Peters sold 10,443 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $12.00, for a total transaction of $125,316.00. Following the transaction, the vice president now directly owns 62,305 shares in the company, valued at $747,660. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Nancy Erba sold 3,799 shares of the 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 transaction, the chief financial officer now owns 10,000 shares in the company, valued at $118,700. The disclosure for this sale can be found here. Insiders have sold 21,179 shares of company stock worth $251,918 over the last quarter. Company insiders own 7.22% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Tower Research Capital LLC TRC grew its position in Immersion by 193.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 22,278 shares of the software maker’s stock valued at $157,000 after acquiring an additional 14,677 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Immersion by 8.1% during the second quarter. The Manufacturers Life Insurance Company now owns 25,835 shares of the software maker’s stock valued at $234,000 after acquiring an additional 1,929 shares during the last quarter. Jane Street Group LLC grew its position in Immersion by 199.2% during the third quarter. Jane Street Group LLC now owns 29,154 shares of the software maker’s stock valued at $238,000 after acquiring an additional 58,555 shares during the last quarter. OppenheimerFunds Inc. bought a new position in Immersion during the fourth quarter valued at approximately $248,000. Finally, BlueCrest Capital Management Ltd bought a new position in Immersion during the fourth quarter valued at approximately $408,000. Institutional investors and hedge funds 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.

Analyst Recommendations for Immersion (NASDAQ:IMMR)

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