Immersion (NASDAQ:IMMR) Rating Lowered to Sell at Wall Street Zen

Immersion (NASDAQ:IMMR) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Monday.

Several other equities research analysts have also recently issued reports on the company. Weiss Ratings cut Immersion from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 8th. Zacks Research raised Immersion to a “hold” rating in a research note on Friday, May 8th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $13.50.

Immersion Stock Performance

IMMR opened at $6.64 on Monday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.16 and a current ratio of 1.83. The stock has a market capitalization of $219.78 million, a price-to-earnings ratio of 332.00 and a beta of 1.02. The company has a fifty day moving average of $6.54 and a 200 day moving average of $6.35. Immersion has a fifty-two week low of $5.25 and a fifty-two week high of $8.00.

Immersion (NASDAQ:IMMR) last announced its quarterly earnings results on Friday, May 1st. The software maker reported ($0.31) EPS for the quarter. Immersion had a negative return on equity of 4.54% and a negative net margin of 0.97%.The company had revenue of $518.49 million during the quarter. As a group, sell-side analysts forecast that Immersion will post -0.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in IMMR. Strs Ohio purchased a new stake in Immersion during the first quarter valued at approximately $27,000. Russell Investments Group Ltd. lifted its stake in shares of Immersion by 85.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,429 shares of the software maker’s stock valued at $33,000 after purchasing an additional 2,041 shares during the last quarter. Optiver Holding B.V. boosted its holdings in shares of Immersion by 1,681.2% in the 1st quarter. Optiver Holding B.V. now owns 7,855 shares of the software maker’s stock worth $43,000 after purchasing an additional 7,414 shares during the period. Tower Research Capital LLC TRC boosted its holdings in shares of Immersion by 677.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,738 shares of the software maker’s stock worth $61,000 after purchasing an additional 6,743 shares during the period. Finally, XTX Topco Ltd bought a new position in shares of Immersion during the 2nd quarter valued at approximately $80,000. Institutional investors own 60.57% of the company’s stock.

Immersion Company Profile

Immersion Corporation is a technology company specializing in the development and licensing of haptic feedback solutions. The company’s proprietary software and hardware technologies enable devices to simulate the sense of touch, enhancing user experiences across a range of electronic products. Immersion’s core offerings include touch-feedback algorithms, software development kits, and reference designs that can be integrated into smartphones, gaming controllers, wearable devices, automotive infotainment systems, medical simulators and virtual or augmented reality platforms.

Since its founding in 1993, Immersion has built an extensive intellectual property portfolio of more than 950 issued patents worldwide.