Price Action Report: Immersion Corporation’s Trend Up, Especially After Today’s Strong Session

Price Action Report: Immersion Corporation's Trend Up, Especially After Today's Strong Session

The stock of Immersion Corporation (NASDAQ:IMMR) is a huge mover today! The stock increased 3.75% or $0.39 on November 23, hitting $10.79. About 836,936 shares traded hands or 100.68% up from the average. Immersion Corporation (NASDAQ:IMMR) has risen 36.07% since April 22, 2016 and is uptrending. It has outperformed by 30.66% the S&P500.
The move comes after 8 months positive chart setup for the $335.03M company. It was reported on Nov, 24 by Barchart.com. We have $11.11 PT which if reached, will make NASDAQ:IMMR worth $10.05 million more.

Analysts await Immersion Corporation (NASDAQ:IMMR) to report earnings on February, 23. They expect $-0.20 earnings per share, down 600.00% or $0.24 from last year’s $0.04 per share. After $0.30 actual earnings per share reported by Immersion Corporation for the previous quarter, Wall Street now forecasts -166.67% negative EPS growth.

Immersion Corporation (NASDAQ:IMMR) Ratings Coverage

Out of 2 analysts covering Immersion (NASDAQ:IMMR), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $11.25 is the highest target while $10 is the lowest. The $10.63 average target is -1.48% below today’s ($10.79) stock price. Immersion has been the topic of 4 analyst reports since August 6, 2015 according to StockzIntelligence Inc. On Friday, May 6 the stock rating was maintained by Craig Hallum with “Buy”. The rating was downgraded by Zacks to “Buy” on Thursday, August 6. The rating was upgraded by TheStreet on Thursday, August 27 to “Hold”. On Monday, April 18 the stock rating was initiated by Lake Street with “Buy”.

According to Zacks Investment Research, “IMMERSION CORP. develops hardware and software technologies that enable users to interact with computers using their sense of touch. Their patented technologies, which are branded TouchSense, enable devices such as mice, joysticks, knobs, and medical simulation products to deliver tactile sensations that correspond to on-screen events. They focus on four application areas: computing and entertainment, medical simulation, professional and industrial, and three-dimensional capture and interaction.”

Insitutional Activity: The institutional sentiment decreased to 0.82 in 2016 Q2. Its down 0.37, from 1.19 in 2016Q1. The ratio turned negative, as 18 funds sold all Immersion Corporation shares owned while 24 reduced positions. 15 funds bought stakes while 35 increased positions. They now own 21.22 million shares or 7.71% less from 23.00 million shares in 2016Q1.
Moreover, Swiss Bank has 0% invested in Immersion Corporation (NASDAQ:IMMR) for 38,000 shares. Blackrock Llc owns 112,391 shares or 0% of their US portfolio. Deutsche Savings Bank Ag holds 0% or 9,066 shares in its portfolio. Palisade Cap Mgmt Lc Nj accumulated 307,500 shares or 0.08% of the stock. Royal Bancshares Of Canada reported 500 shares or 0% of all its holdings. G2 Invest Partners Management Ltd Liability Corp reported 96,372 shares or 0.33% of all its holdings. Kingdom Ridge holds 1.84 million shares or 6.59% of its portfolio. Piermont Capital Management Inc reported 80,546 shares or 0.15% of all its holdings. Blackrock Fund Advsr has 0% invested in the company for 750,375 shares. Moreover, Legal & General Grp Public Limited has 0% invested in Immersion Corporation (NASDAQ:IMMR) for 5,590 shares. Moreover, Clearline L P has 0.69% invested in Immersion Corporation (NASDAQ:IMMR) for 475,876 shares. Grp One Trading L P holds 0.03% of its portfolio in Immersion Corporation (NASDAQ:IMMR) for 333,720 shares. Moreover, Rhumbline Advisers has 0% invested in Immersion Corporation (NASDAQ:IMMR) for 39,117 shares. Vident Inv Advisory Ltd holds 0.12% of its portfolio in Immersion Corporation (NASDAQ:IMMR) for 121,060 shares. Harvest Capital Strategies Ltd Liability Corporation holds 0.43% of its portfolio in Immersion Corporation (NASDAQ:IMMR) for 414,033 shares.

Insider Transactions: Since November 18, 2016, the stock had 0 insider purchases, and 1 sale for $104,520 net activity. 10,452 shares were sold by Sundaram Mahesh, worth $104,520.

More recent Immersion Corporation (NASDAQ:IMMR) news were published by: Finance.Yahoo.com which released: “Immersion Corporation Reports Third Quarter 2016 Results” on November 03, 2016. Also Businesswire.com published the news titled: “Immersion Corporation Reports Second Quarter 2016 Results” on August 04, 2016. Businesswire.com‘s news article titled: “Cannes Lions and Immersion Corporation Partner to Showcase the Power of Touch …” with publication date: June 17, 2016 was also an interesting one.

IMMR Company Profile

Immersion Corporation, incorporated on August 26, 1999, is a licensing firm focused on the creation, design, development and licensing of haptic technologies that allow people to use their sense of touch more when operating a range of digital devices. The Firm develops, licenses and supports a range of software and intellectual property (IP). The Firm is focused on the target markets, including mobile devices, wearables, consumer, mobile entertainment and other content; console gaming; automotive; medical, and commercial. The Firm has adopted a hybrid business model, under which the Company provides advanced tactile software, related tools and technical assistance to certain customers, and offers licenses to its patented IP to other customers. The Company’s licenses enable its clients to deploy haptically-enabled devices, content and other offerings, which they typically sell under their own brand names. The Firm and its subsidiaries hold patents, covering a range of digital technologies and including many of the ways in which touch-related technology can be incorporated into and between hardware products and components, systems software, application software, and digital content.

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