Immersion (NASDAQ:IMMR) Receives Hold (C+) Rating from Weiss Ratings

Key Points

• Immersion's stock rating has been restated as a "hold (C+)" by Weiss Ratings, indicating a cautious outlook for the company.
• Wall Street Zen has also downgraded Immersion from a "buy" to a "hold", reflecting mixed sentiments from investment analysts.
• The company's stock has shown a 1.0% increase recently, with institutional investors increasing their stakes significantly in the first quarter.

Immersion (NASDAQ:IMMR - Get Free Report)'s stock had its "hold (c+)" rating restated by Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Separately, Wall Street Zen lowered Immersion from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Immersion has an average rating of "Moderate Buy" and a consensus price target of $12.25.

Immersion Stock Up 1.0%

Shares of NASDAQ IMMR opened at $7.19 on Wednesday. Immersion has a one year low of $6.47 and a one year high of $10.72. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.72 and a quick ratio of 1.04. The business's fifty day moving average price is $7.07 and its 200-day moving average price is $7.35. The stock has a market capitalization of $232.93 million, a PE ratio of 2.59 and a beta of 1.16.

Hedge Funds Weigh In On Immersion

A number of institutional investors have recently added to or reduced their stakes in IMMR. GAMMA Investing LLC increased its stake in Immersion by 509.9% in the 1st quarter. GAMMA Investing LLC now owns 6,087 shares of the software maker's stock worth $460,000 after acquiring an additional 5,089 shares during the last quarter. SummerHaven Investment Management LLC increased its stake in Immersion by 2.3% in the 1st quarter. SummerHaven Investment Management LLC now owns 77,719 shares of the software maker's stock worth $589,000 after acquiring an additional 1,718 shares during the last quarter. FNY Investment Advisers LLC increased its stake in Immersion by 12.8% in the 1st quarter. FNY Investment Advisers LLC now owns 22,000 shares of the software maker's stock worth $166,000 after acquiring an additional 2,492 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Immersion by 0.5% in the 1st quarter. Bank of New York Mellon Corp now owns 359,868 shares of the software maker's stock worth $2,728,000 after acquiring an additional 1,628 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ increased its stake in Immersion by 47.4% in the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 17,754 shares of the software maker's stock worth $135,000 after acquiring an additional 5,712 shares during the last quarter. 60.57% of the stock is currently owned by institutional investors.

About Immersion

Immersion Corporation, together with its subsidiaries, engages in the creation, design, development, and licensing of haptic technologies that allow people to use their sense of touch to engage with and experience various digital products in North America, Europe, and Asia. The company provides technology, patent, and combined licenses.

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