Immersion (NASDAQ:IMMR) Cut to Hold at Wall Street Zen

Immersion (NASDAQ:IMMR - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Saturday.

Other equities analysts have also issued research reports about the company. Craig Hallum decreased their target price on Immersion from $14.00 to $11.00 and set a "buy" rating on the stock in a research note on Thursday, March 13th. BWS Financial reissued a "buy" rating and issued a $13.50 price target on shares of Immersion in a research report on Thursday, March 13th.

Immersion Trading Up 1.8%

Shares of NASDAQ:IMMR traded up $0.14 during midday trading on Friday, reaching $7.87. 567,509 shares of the company's stock were exchanged, compared to its average volume of 662,555. The stock has a market cap of $254.99 million, a price-to-earnings ratio of 2.83 and a beta of 1.41. Immersion has a fifty-two week low of $6.47 and a fifty-two week high of $13.94. The firm's 50 day simple moving average is $7.62 and its two-hundred day simple moving average is $7.87. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.72 and a quick ratio of 1.04.

Insider Transactions at Immersion

In other news, CFO J Michael Dodson sold 5,921 shares of the business's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $7.53, for a total transaction of $44,585.13. Following the completion of the transaction, the chief financial officer directly owned 39,132 shares of the company's stock, valued at approximately $294,663.96. The trade was a 13.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its holdings in shares of Immersion by 16.8% in the 4th quarter. Bank of New York Mellon Corp now owns 358,240 shares of the software maker's stock valued at $3,127,000 after purchasing an additional 51,655 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in Immersion in the fourth quarter valued at $98,000. SBI Securities Co. Ltd. acquired a new stake in Immersion in the fourth quarter valued at $51,000. Raymond James Financial Inc. acquired a new stake in Immersion in the fourth quarter valued at $1,644,000. Finally, AlphaQuest LLC purchased a new stake in Immersion during the 4th quarter worth about $61,000. Hedge funds and other institutional investors own 60.57% of the company's stock.

Immersion Company Profile

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.