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

Key Points

• Wall Street Zen downgraded Immersion (NASDAQ:IMMR) from “hold” to “sell,” adding to mixed analyst sentiment around the stock. Overall, MarketBeat data now shows a consensus rating of “Hold” with a $13.50 target price.
• Immersion’s stock was trading near $6.64 on Monday, close to its 50-day and 200-day moving averages, and well below its 12-month high of $8.00. The company has a market cap of about $219.8 million.
• The company recently reported weak earnings, posting an EPS of -$0.31, with negative net margin and return on equity. Analysts currently expect Immersion to post -$0.04 EPS for the full year.

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

Several other research firms have also commented on IMMR. Zacks Research upgraded Immersion to a "hold" rating in a research note on Friday, May 8th. Weiss Ratings downgraded Immersion from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, May 8th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Immersion currently has a consensus rating of "Hold" and a consensus target price of $13.50.

Immersion Stock Performance

IMMR opened at $6.64 on Monday. The company's 50 day moving average is $6.54 and its 200 day moving average is $6.35. The company has a current ratio of 1.83, a quick ratio of 1.16 and a debt-to-equity ratio of 0.25. The company has a market cap of $219.78 million, a price-to-earnings ratio of 332.00 and a beta of 1.02. Immersion has a 12-month low of $5.25 and a 12-month high of $8.00.

Immersion (NASDAQ:IMMR - Get Free Report) last announced its earnings results on Friday, May 1st. The software maker reported ($0.31) EPS for the quarter. Immersion had a negative net margin of 0.97% and a negative return on equity of 4.54%. The business had revenue of $518.49 million for the quarter. On average, equities research analysts predict that Immersion will post -0.04 EPS for the current year.

Hedge Funds Weigh In On Immersion

A number of hedge funds have recently modified their holdings of IMMR. Quantinno Capital Management LP boosted its stake in shares of Immersion by 40.0% in the first quarter. Quantinno Capital Management LP now owns 48,999 shares of the software maker's stock worth $268,000 after acquiring an additional 14,011 shares during the period. First Trust Advisors LP raised its stake in Immersion by 2.1% during the 1st quarter. First Trust Advisors LP now owns 87,899 shares of the software maker's stock valued at $480,000 after purchasing an additional 1,819 shares during the period. Virtu Financial LLC purchased a new position in Immersion in the 4th quarter worth approximately $84,000. Parallel Advisors LLC purchased a new position in Immersion in the 4th quarter worth approximately $86,000. Finally, Russell Investments Group Ltd. boosted its stake in 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 purchasing an additional 2,041 shares during the period. 60.57% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.