Wall Street Zen Downgrades Immersion (NASDAQ:IMMR) to Sell

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

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

Immersion Stock Performance

IMMR opened at $7.03 on Friday. Immersion has a 1-year low of $5.25 and a 1-year high of $8.15. The company has a market cap of $232.83 million, a price-to-earnings ratio of 351.70 and a beta of 1.03. The company’s fifty day moving average price is $6.41 and its two-hundred day moving average price is $6.36. The company has a current ratio of 1.83, a quick ratio of 1.16 and a debt-to-equity ratio of 0.25.

Immersion (NASDAQ:IMMR) last issued its quarterly earnings data on Friday, May 1st. The software maker reported ($0.31) earnings per share (EPS) for the quarter. The business had revenue of $518.49 million for the quarter. Immersion had a negative net margin of 0.97% and a negative return on equity of 4.54%. On average, analysts expect that Immersion will post -0.04 EPS for the current fiscal year.

Hedge Funds Weigh In On Immersion

Several large investors have recently bought and sold shares of IMMR. Caitlin John LLC purchased a new position in Immersion during the 3rd quarter worth $29,000. Russell Investments Group Ltd. grew 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 worth $33,000 after acquiring an additional 2,041 shares in the last quarter. Strs Ohio purchased a new stake in shares of Immersion in the first quarter valued at about $27,000. Tower Research Capital LLC TRC raised its holdings in shares of Immersion by 677.7% in the second quarter. Tower Research Capital LLC TRC now owns 7,738 shares of the software maker’s stock valued at $61,000 after purchasing an additional 6,743 shares during the last quarter. Finally, Optiver Holding B.V. lifted its position in shares of Immersion by 1,681.2% during the first quarter. Optiver Holding B.V. now owns 7,855 shares of the software maker’s stock valued at $43,000 after purchasing an additional 7,414 shares in the last quarter. 60.57% of the stock is currently owned by institutional investors.

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.