Shares of Immersion Co. (NASDAQ:IMMR – Get Rating) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $5.40 and traded as high as $5.48. Immersion shares last traded at $5.44, with a volume of 253,558 shares trading hands.
Analysts Set New Price Targets
Several analysts recently commented on IMMR shares. Craig Hallum decreased their price target on Immersion from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, June 7th. StockNews.com lowered Immersion from a “buy” rating to a “hold” rating in a research note on Monday, August 15th.
Immersion Price Performance
The company has a market cap of $182.31 million, a price-to-earnings ratio of 20.92 and a beta of 1.56. The business has a 50 day simple moving average of $5.70 and a 200 day simple moving average of $5.40.
Insiders Place Their Bets
Institutional Investors Weigh In On Immersion
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Trexquant Investment LP increased its holdings in Immersion by 23.3% in the second quarter. Trexquant Investment LP now owns 17,287 shares of the software maker’s stock valued at $92,000 after purchasing an additional 3,272 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Immersion by 3.5% in the first quarter. Bank of New York Mellon Corp now owns 182,342 shares of the software maker’s stock valued at $1,014,000 after purchasing an additional 6,244 shares during the last quarter. Northern Trust Corp increased its holdings in Immersion by 12.0% in the second quarter. Northern Trust Corp now owns 81,561 shares of the software maker’s stock valued at $436,000 after purchasing an additional 8,712 shares during the last quarter. InterOcean Capital Group LLC bought a new stake in Immersion in the first quarter valued at about $56,000. Finally, Cetera Advisors LLC bought a new stake in Immersion in the second quarter valued at about $56,000. Institutional investors own 44.20% of the company’s stock.
Immersion Corporation, together with its subsidiaries, invents, scales, and licenses 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.
- Get a free copy of the StockNews.com research report on Immersion (IMMR)
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