Immersion Co. (NASDAQ:IMMR) was the recipient of a large drop in short interest during the month of December. As of December 31st, there was short interest totalling 2,370,000 shares, a drop of 5.6% from the December 15th total of 2,510,000 shares. Based on an average trading volume of 228,600 shares, the short-interest ratio is presently 10.4 days. Currently, 8.0% of the company’s shares are short sold.
Shares of IMMR stock traded down $0.08 on Friday, reaching $7.75. 2,119 shares of the company’s stock were exchanged, compared to its average volume of 144,891. Immersion has a 52 week low of $6.40 and a 52 week high of $10.74. The stock has a market capitalization of $248.96 million, a PE ratio of 4.45 and a beta of 1.16. The company’s fifty day simple moving average is $7.28 and its 200 day simple moving average is $7.69.
Immersion (NASDAQ:IMMR) last issued its quarterly earnings results on Wednesday, November 6th. The software maker reported ($0.04) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.09). Immersion had a negative return on equity of 26.66% and a negative net margin of 68.35%. The business had revenue of $10.60 million for the quarter, compared to the consensus estimate of $11.34 million. During the same period in the prior year, the business posted ($0.07) earnings per share. Immersion’s revenue was up 23.3% on a year-over-year basis. Equities analysts predict that Immersion will post -0.67 EPS for the current year.
Several hedge funds have recently modified their holdings of the stock. Metropolitan Life Insurance Co NY bought a new stake in Immersion during the 3rd quarter valued at $84,000. Raging Capital Management LLC raised its position in Immersion by 1.1% during the 3rd quarter. Raging Capital Management LLC now owns 4,832,445 shares of the software maker’s stock valued at $36,968,000 after purchasing an additional 53,099 shares in the last quarter. State Street Corp raised its position in Immersion by 11.7% during the 3rd quarter. State Street Corp now owns 565,501 shares of the software maker’s stock valued at $4,326,000 after purchasing an additional 59,106 shares in the last quarter. Rational Advisors LLC bought a new stake in Immersion during the 3rd quarter valued at $210,000. Finally, First Trust Advisors LP raised its position in Immersion by 25.8% during the 3rd quarter. First Trust Advisors LP now owns 71,877 shares of the software maker’s stock valued at $550,000 after purchasing an additional 14,742 shares in the last quarter. 75.92% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts recently issued reports on the company. Zacks Investment Research raised Immersion from a “sell” rating to a “hold” rating in a research note on Wednesday, January 8th. ValuEngine raised Immersion from a “hold” rating to a “buy” rating in a research note on Tuesday, December 24th. Finally, BidaskClub lowered Immersion from a “hold” rating to a “sell” rating in a research note on Saturday, September 28th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $10.81.
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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