Immersion (NASDAQ:IMMR) Stock Price Passes Above Two Hundred Day Moving Average of $6.89

Shares of Immersion Co. (NASDAQ:IMMR) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $6.89 and traded as high as $7.01. Immersion shares last traded at $6.91, with a volume of 173,100 shares.

Several research firms recently weighed in on IMMR. Craig Hallum reduced their price objective on shares of Immersion from $11.00 to $9.00 and set a “buy” rating for the company in a report on Friday, March 6th. Zacks Investment Research downgraded shares of Immersion from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. Immersion has an average rating of “Hold” and an average price target of $8.38.

The firm’s 50-day simple moving average is $6.47 and its 200 day simple moving average is $6.89. The stock has a market capitalization of $192.51 million, a P/E ratio of -15.70 and a beta of 1.51.

Immersion (NASDAQ:IMMR) last issued its quarterly earnings results on Thursday, May 7th. The software maker reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.01). Immersion had a negative return on equity of 14.91% and a negative net margin of 37.36%. The business had revenue of $6.26 million during the quarter. Equities research analysts expect that Immersion Co. will post -0.02 EPS for the current fiscal year.

In other Immersion news, CEO Ramzi Haidamus sold 7,611 shares of the business’s stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $6.03, for a total value of $45,894.33. Following the sale, the chief executive officer now directly owns 65,214 shares in the company, valued at $393,240.42. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.75% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp raised its holdings in Immersion by 11.7% during the 3rd quarter. State Street Corp now owns 565,501 shares of the software maker’s stock worth $4,326,000 after buying an additional 59,106 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Immersion by 4.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 78,456 shares of the software maker’s stock worth $583,000 after buying an additional 3,447 shares during the period. Jane Street Group LLC acquired a new stake in Immersion during the 4th quarter worth about $108,000. Tower Research Capital LLC TRC raised its holdings in Immersion by 37,346.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,485 shares of the software maker’s stock worth $78,000 after buying an additional 10,457 shares during the period. Finally, Perritt Capital Management Inc. raised its holdings in Immersion by 13.7% during the 4th quarter. Perritt Capital Management Inc. now owns 131,500 shares of the software maker’s stock worth $977,000 after buying an additional 15,800 shares during the period. Hedge funds and other institutional investors own 81.40% of the company’s stock.

About Immersion (NASDAQ:IMMR)

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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