Immersion Co. (NASDAQ:IMMR) CFO Nancy Erba sold 3,799 shares of the stock in a transaction that occurred on Thursday, March 8th. The shares were sold at an average price of $11.87, for a total transaction of $45,094.13. Following the sale, the chief financial officer now directly owns 10,000 shares of the company’s stock, valued at approximately $118,700. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
Shares of Immersion Co. (NASDAQ IMMR) traded up $0.09 during mid-day trading on Friday, hitting $12.49. 627,337 shares of the stock traded hands, compared to its average volume of 1,840,000. The firm has a market cap of $365.35, a P/E ratio of -8.06, a price-to-earnings-growth ratio of 0.76 and a beta of 1.62. Immersion Co. has a one year low of $5.76 and a one year high of $12.50.
Immersion (NASDAQ:IMMR) last announced its quarterly earnings data on Thursday, February 22nd. The software maker reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.01. The company had revenue of $6.90 million during the quarter, compared to the consensus estimate of $6.32 million. Immersion had a negative net margin of 129.35% and a negative return on equity of 146.48%. The company’s quarterly revenue was down 25.8% on a year-over-year basis. During the same quarter last year, the firm posted ($0.27) EPS. analysts forecast that Immersion Co. will post 1.1 earnings per share for the current fiscal year.
IMMR has been the subject of a number of recent analyst reports. Craig Hallum increased their target price on shares of Immersion from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. ValuEngine raised shares of Immersion from a “strong sell” rating to a “sell” rating in a research report on Friday, December 1st. Dougherty & Co reaffirmed a “buy” rating and set a $14.00 price objective (up previously from $10.00) on shares of Immersion in a research report on Friday, February 23rd. Zacks Investment Research downgraded shares of Immersion from a “hold” rating to a “sell” rating in a research report on Saturday, February 24th. Finally, BidaskClub raised shares of Immersion from a “strong sell” rating to a “sell” rating in a research report on Wednesday, February 28th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $12.25.
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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