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

Key Points

• Immersion (NASDAQ:IMMR) was downgraded by Wall Street Zen from “hold” to “sell” in a report issued Saturday.
• Other analyst coverage was mixed: Weiss Ratings reaffirmed a “hold (c-)” rating, while MarketBeat says the stock’s overall consensus remains “Moderate Buy” with a $13.50 target price.
• The company recently reported a Q1 EPS loss of $0.31 and posted $518.49 million in revenue; shares last traded at $6.68, below the consensus target and near the middle of their 52-week range.

Immersion (NASDAQ:IMMR - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Saturday.

Separately, Weiss Ratings reissued a "hold (c-)" rating on shares of Immersion in a report on Friday, April 24th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $13.50.

Immersion Price Performance

Shares of NASDAQ:IMMR opened at $6.68 on Friday. The company's fifty day moving average price is $6.04 and its 200-day moving average price is $6.40. The firm has a market capitalization of $221.11 million, a price-to-earnings ratio of 8.35 and a beta of 1.03. Immersion has a one year low of $5.25 and a one year high of $8.15. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.88 and a quick ratio of 1.12.

Immersion (NASDAQ:IMMR - Get Free Report) last issued its quarterly earnings results on Friday, May 1st. The software maker reported ($0.31) EPS for the quarter. The company had revenue of $518.49 million during the quarter. Immersion had a return on equity of 4.29% and a net margin of 1.03%.

Institutional Investors Weigh In On Immersion

Institutional investors have recently made changes to their positions in the business. Strs Ohio purchased a new stake in shares of Immersion in the 1st quarter valued at $27,000. Virtu Financial LLC purchased a new stake in Immersion during the 4th quarter valued at $84,000. Odyssean LLC purchased a new stake in Immersion during the 4th quarter valued at $101,000. Parallel Advisors LLC purchased a new stake in Immersion during the 4th quarter valued at $86,000. Finally, Russell Investments Group Ltd. boosted its position in Immersion by 85.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,429 shares of the software maker's stock valued at $33,000 after buying an additional 2,041 shares during the period. Hedge funds and other institutional investors own 60.57% of the company's stock.

About Immersion

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.

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