Shares of Immersion Co. (NASDAQ:IMMR) have earned an average rating of “Buy” from the eight analysts that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $13.25.
IMMR has been the topic of a number of research reports. ValuEngine upgraded shares of Immersion from a “sell” rating to a “hold” rating in a research report on Monday, April 2nd. BidaskClub downgraded Immersion from a “hold” rating to a “sell” rating in a report on Friday, March 30th. Craig Hallum increased their price target on Immersion from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Zacks Investment Research raised Immersion from a “sell” rating to a “hold” rating in a report on Friday, March 2nd. Finally, B. Riley reaffirmed a “buy” rating and set a $12.25 price target on shares of Immersion in a report on Tuesday, January 30th.
NASDAQ IMMR traded down $0.20 during trading hours on Friday, reaching $11.68. The company had a trading volume of 263,907 shares, compared to its average volume of 322,775. Immersion has a 1-year low of $5.76 and a 1-year high of $12.85. The stock has a market capitalization of $350.01, a P/E ratio of -9.82, a PEG ratio of 0.72 and a beta of 1.19.
In other news, VP Anne Marie Peters sold 4,435 shares of the firm’s stock in a transaction on Thursday, March 8th. The stock was sold at an average price of $11.87, for a total value of $52,643.45. Following the completion of the transaction, the vice president now owns 67,545 shares in the company, valued at $801,759.15. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Nancy Erba sold 3,799 shares of the firm’s stock in a transaction on Thursday, March 8th. The shares were sold at an average price of $11.87, for a total value of $45,094.13. Following the completion of the transaction, the chief financial officer now owns 10,000 shares of the company’s stock, valued at approximately $118,700. The disclosure for this sale can be found here. In the last three months, insiders sold 21,179 shares of company stock valued at $251,918. 7.22% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the stock. Lyon Street Capital LLC purchased a new stake in Immersion in the 4th quarter valued at about $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 in the last quarter. 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 in the last quarter. 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 in the last quarter. 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 in the last quarter. Hedge funds and other institutional investors own 79.17% of the company’s stock.
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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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