Immersion Co. (NASDAQ:IMMR)’s share price hit a new 52-week low during trading on Monday . The company traded as low as $7.89 and last traded at $8.31, with a volume of 23043 shares. The stock had previously closed at $7.93.

Several equities research analysts have recently issued reports on IMMR shares. Zacks Investment Research upgraded shares of Immersion from a “sell” rating to a “hold” rating in a report on Thursday, November 29th. BidaskClub lowered shares of Immersion from a “sell” rating to a “strong sell” rating in a report on Tuesday, December 4th. B. Riley restated a “neutral” rating and issued a $9.50 target price (down previously from $18.00) on shares of Immersion in a report on Friday, February 22nd. Finally, ValuEngine upgraded shares of Immersion from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 2nd. Three analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $13.17.

The firm has a market cap of $244.68 million, a price-to-earnings ratio of 4.86 and a beta of 1.01.

Immersion (NASDAQ:IMMR) last announced its quarterly earnings data on Tuesday, February 26th. The software maker reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.07. Immersion had a net margin of 48.97% and a return on equity of 53.62%. The company had revenue of $10.87 million during the quarter, compared to analyst estimates of $9.05 million. During the same quarter last year, the business posted ($0.29) EPS. The firm’s revenue for the quarter was up 57.6% on a year-over-year basis. On average, research analysts anticipate that Immersion Co. will post -0.99 earnings per share for the current year.

In related news, CFO Nancy Erba sold 3,554 shares of Immersion stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $8.32, for a total transaction of $29,569.28. Following the completion of the sale, the chief financial officer now owns 70,647 shares in the company, valued at approximately $587,783.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Anne Marie Peters sold 10,000 shares of Immersion stock in a transaction dated Wednesday, February 6th. The shares were sold at an average price of $10.00, for a total transaction of $100,000.00. Following the sale, the vice president now owns 71,110 shares of the company’s stock, valued at approximately $711,100. The disclosure for this sale can be found here. Insiders have sold a total of 86,879 shares of company stock valued at $749,393 in the last quarter. 18.59% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quantamental Technologies LLC purchased a new position in Immersion during the 4th quarter valued at about $42,000. Metropolitan Life Insurance Co. NY increased its position in Immersion by 365.2% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 9,866 shares of the software maker’s stock valued at $88,000 after purchasing an additional 7,745 shares during the period. Trexquant Investment LP purchased a new position in Immersion during the 3rd quarter valued at about $146,000. Smith Asset Management Group LP purchased a new position in Immersion during the 4th quarter valued at about $167,000. Finally, Bank of America Corp DE increased its position in Immersion by 48.9% during the 4th quarter. Bank of America Corp DE now owns 18,700 shares of the software maker’s stock valued at $167,000 after purchasing an additional 6,142 shares during the period. 79.10% of the stock is currently owned by institutional investors and hedge funds.

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About Immersion (NASDAQ:IMMR)

Immersion Corporation creates, designs, develops, and licenses haptic technologies in North America, Europe, and Asia. Its technologies allow people to use their sense of touch when they engage with various digital products. The company offers TouchSense Lite and TouchSense Premium patent licenses, haptic technologies to original equipment manufacturers.

See Also: Gross Domestic Product (GDP)

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