Short Interest in Immersion Co. (NASDAQ:IMMR) Decreases By 15.9%

Immersion Co. (NASDAQ:IMMR) saw a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 1,110,000 shares, a drop of 15.9% from the August 15th total of 1,320,000 shares. Approximately 3.7% of the shares of the company are sold short. Based on an average trading volume of 457,500 shares, the short-interest ratio is currently 2.4 days.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of Immersion in a research note on Thursday, August 17th. They set a “buy” rating on the stock.

Institutional Trading of Immersion

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Dorsey Wright & Associates purchased a new position in Immersion in the first quarter valued at about $27,000. Quarry LP acquired a new position in Immersion during the first quarter worth $39,000. FNY Investment Advisers LLC purchased a new stake in Immersion during the first quarter worth $50,000. Lazard Asset Management LLC acquired a new stake in Immersion in the fourth quarter valued at $54,000. Finally, State of Wyoming purchased a new position in shares of Immersion in the fourth quarter valued at $59,000. Institutional investors and hedge funds own 58.69% of the company’s stock.

Immersion Trading Down 1.3 %

Shares of IMMR stock opened at $6.72 on Tuesday. The stock has a 50 day simple moving average of $7.00 and a 200-day simple moving average of $7.34. The company has a market cap of $216.65 million, a price-to-earnings ratio of 5.21 and a beta of 1.44. Immersion has a 12-month low of $4.85 and a 12-month high of $9.25.

Immersion (NASDAQ:IMMR) last announced its quarterly earnings data on Friday, August 11th. The software maker reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.05. Immersion had a return on equity of 23.88% and a net margin of 114.74%. The firm had revenue of $6.98 million for the quarter, compared to analyst estimates of $8.02 million. On average, equities analysts forecast that Immersion will post 0.75 earnings per share for the current fiscal year.

Immersion Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Monday, October 16th will be issued a $0.03 dividend. The ex-dividend date of this dividend is Friday, October 13th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.79%. Immersion’s dividend payout ratio is presently 9.30%.

Immersion Company Profile

Immersion Corporation, together with its subsidiaries, creates, designs, develop, 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.