Immersion (IMMR) Getting Somewhat Favorable Press Coverage, Study Shows
Headlines about Immersion (NASDAQ:IMMR) have been trending somewhat positive this week, Accern Sentiment reports. The research firm identifies positive and negative news coverage by monitoring more than 20 million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Immersion earned a media sentiment score of 0.04 on Accern’s scale. Accern also gave media coverage about the software maker an impact score of 45.4550997480177 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the near future.
Several research analysts have commented on the company. Zacks Investment Research downgraded Immersion from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. ValuEngine upgraded Immersion from a “sell” rating to a “hold” rating in a research note on Saturday, September 30th. Finally, B. Riley restated a “buy” rating and issued a $9.75 target price on shares of Immersion in a research note on Monday, October 30th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. Immersion currently has an average rating of “Hold” and an average price target of $10.17.
Shares of Immersion (NASDAQ IMMR) traded up $0.14 during midday trading on Monday, reaching $7.54. The company’s stock had a trading volume of 299,300 shares, compared to its average volume of 379,100. Immersion has a fifty-two week low of $5.76 and a fifty-two week high of $11.85. The company has a market cap of $220.55, a P/E ratio of -3.08, a P/E/G ratio of 1.44 and a beta of 1.36.
Immersion (NASDAQ:IMMR) last issued its earnings results on Thursday, November 2nd. The software maker reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.16. Immersion had a negative return on equity of 100.50% and a negative net margin of 190.18%. The business had revenue of $11.90 million during the quarter, compared to the consensus estimate of $7.33 million. During the same quarter last year, the company earned $0.34 EPS. The firm’s revenue was down 54.8% compared to the same quarter last year. sell-side analysts predict that Immersion will post -1.12 EPS for the current fiscal year.
In other Immersion news, major shareholder Raging Capital Management, Llc purchased 326,366 shares of the stock in a transaction on Friday, December 15th. The shares were purchased at an average price of $6.58 per share, with a total value of $2,147,488.28. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. In the last 90 days, insiders acquired 1,432,482 shares of company stock valued at $10,166,370. 7.22% of the stock is owned by corporate insiders.
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Immersion Company Profile
Immersion Corporation is a licensing company focused on the creation, design, development and licensing of haptic technologies that allow people to use their sense of touch when operating digital devices. The Company develops, licenses and supports a range of software and intellectual property (IP). It is focused on the markets, including mobile devices, wearables, consumer, mobile entertainment and other content; console gaming; automotive; medical, and commercial.
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