Immersion’s (IMMR) “Buy” Rating Reaffirmed at BWS Financial

Immersion (NASDAQ:IMMR)‘s stock had its “buy” rating reiterated by stock analysts at BWS Financial in a research report issued on Wednesday,Benzinga reports. They presently have a $13.50 price objective on the software maker’s stock. BWS Financial’s target price would indicate a potential upside of 61.97% from the company’s current price.

Immersion Stock Up 0.5 %

Shares of IMMR opened at $8.34 on Wednesday. The stock’s 50-day moving average price is $8.79 and its two-hundred day moving average price is $9.17. Immersion has a 12 month low of $6.54 and a 12 month high of $13.94. The company has a current ratio of 1.65, a quick ratio of 0.94 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $269.05 million, a PE ratio of 2.98 and a beta of 1.50.

Immersion (NASDAQ:IMMR) last posted its earnings results on Monday, December 16th. The software maker reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.68. Immersion had a net margin of 11.79% and a return on equity of 28.08%. On average, analysts anticipate that Immersion will post 1.57 EPS for the current year.

Hedge Funds Weigh In On Immersion

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Segall Bryant & Hamill LLC bought a new position in shares of Immersion in the third quarter valued at approximately $3,113,000. Kanen Wealth Management LLC boosted its holdings in shares of Immersion by 84.6% during the 4th quarter. Kanen Wealth Management LLC now owns 600,000 shares of the software maker’s stock valued at $5,238,000 after acquiring an additional 275,000 shares during the last quarter. MorganRosel Wealth Management LLC bought a new stake in Immersion during the 3rd quarter worth approximately $1,063,000. Sanctuary Advisors LLC bought a new stake in shares of Immersion during the third quarter valued at approximately $740,000. Finally, Bank of New York Mellon Corp boosted its stake in Immersion by 16.8% during the fourth quarter. Bank of New York Mellon Corp now owns 358,240 shares of the software maker’s stock worth $3,127,000 after buying an additional 51,655 shares during the period. 60.57% of the stock is currently owned by institutional investors and hedge funds.

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.