Immersion (NASDAQ:IMMR) Downgraded by Wall Street Zen to Hold

Wall Street Zen cut shares of Immersion (NASDAQ:IMMR) from a buy rating to a hold rating in a research note issued to investors on Saturday.

Several other equities research analysts have also recently weighed in on the stock. BWS Financial reaffirmed a “buy” rating and set a $13.50 price objective on shares of Immersion in a research report on Thursday, March 13th. Craig Hallum cut their price objective on shares of Immersion from $14.00 to $11.00 and set a “buy” rating for the company in a research report on Thursday, March 13th.

Immersion Trading Down 4.4%

Shares of Immersion stock opened at $7.73 on Friday. The firm has a 50-day moving average of $7.60 and a 200-day moving average of $7.87. The stock has a market cap of $250.45 million, a PE ratio of 2.78 and a beta of 1.41. Immersion has a 52-week low of $6.47 and a 52-week high of $13.94. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.04 and a current ratio of 1.72.

Insider Buying and Selling

In other Immersion 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 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. SBI Securities Co. Ltd. acquired a new position in Immersion during the fourth quarter worth about $51,000. Millennium Management LLC raised its stake in Immersion by 128.3% during the fourth quarter. Millennium Management LLC now owns 794,767 shares of the software maker’s stock worth $6,938,000 after acquiring an additional 446,623 shares in the last quarter. Cetera Investment Advisers raised its stake in Immersion by 58.6% during the fourth quarter. Cetera Investment Advisers now owns 20,850 shares of the software maker’s stock worth $182,000 after acquiring an additional 7,703 shares in the last quarter. Northern Trust Corp raised its stake in Immersion by 2.1% during the fourth quarter. Northern Trust Corp now owns 296,590 shares of the software maker’s stock worth $2,589,000 after acquiring an additional 6,239 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Immersion by 509.9% in the first quarter. GAMMA Investing LLC now owns 6,087 shares of the software maker’s stock valued at $460,000 after buying an additional 5,089 shares during the period. Institutional investors and hedge funds 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.