Stock Worth Mentioning: Could Immersion Corporation Decline After Today’s Significant Increase?

Stock Worth Mentioning: Could Immersion Corporation Decline After Today's Significant Increase?

The stock of Immersion Corporation (NASDAQ:IMMR) is a huge mover today! About 896,143 shares traded hands or 270.84% up from the average. Immersion Corporation (NASDAQ:IMMR) has declined 11.26% since April 4, 2016 and is downtrending. It has underperformed by 12.35% the S&P500.
The move comes after 9 months positive chart setup for the $227.48 million company. It was reported on Nov, 4 by Barchart.com. We have $20.46 PT which if reached, will make NASDAQ:IMMR worth $329.85M more.

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. Immersion has been the topic of 4 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The company was downgraded on Thursday, August 6 by Zacks. Craig Hallum maintained the shares of IMMR in a report on Friday, May 6 with “Buy” rating. The firm has “Buy” rating by Lake Street given on Monday, April 18. TheStreet upgraded the shares of IMMR in a report on Thursday, August 27 to “Hold” rating.

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 1.19 in 2016 Q2. Its down 0.48, from 1.67 in 2016Q1. The ratio fall, 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.
Renaissance Tech holds 0% or 165,413 shares in its portfolio. The Maryland-based Marathon Cap Mgmt has invested 0.13% in Immersion Corporation (NASDAQ:IMMR). Engineers Gate Manager L P reported 12,997 shares or 0.01% of all its holdings. Swiss Fincl Bank accumulated 0% or 38,000 shares. Zurcher Kantonalbank (Zurich Cantonalbank) holds 0% or 840 shares in its portfolio. Schwab Charles Mngmt Inc holds 0% of its portfolio in Immersion Corporation (NASDAQ:IMMR) for 50,679 shares. Cardinal Cap Lc Ct has 0.07% invested in the company for 186,342 shares. Blackrock Institutional Na owns 835,769 shares or 0% of their US portfolio. Credit Suisse Ag owns 18,417 shares or 0% of their US portfolio. Moreover, Geode Capital Management Limited Com has 0% invested in Immersion Corporation (NASDAQ:IMMR) for 216,174 shares. New York State Common Retirement Fund holds 0% or 38,703 shares in its portfolio. Navellier Assocs Inc, a Nevada-based fund reported 13,147 shares. Fny Managed Accounts Ltd Liability Corp has 5,000 shares for 0% of their US portfolio. The California-based Wells Fargo Mn has invested 0% in Immersion Corporation (NASDAQ:IMMR). Granite Point Capital Management L P accumulated 0.33% or 103,225 shares.

More notable recent Immersion Corporation (NASDAQ:IMMR) news were published by: Businesswire.com which released: “Immersion Corporation Reports Third Quarter 2016 Results” on November 03, 2016, also Businesswire.com with their article: “Immersion Corporation Reports Second Quarter 2016 Results” published on August 04, 2016, Businesswire.com published: “Immersion Corporation Reports Record Revenue in Third Quarter 2015; Raises …” on October 29, 2015. More interesting news about Immersion Corporation (NASDAQ:IMMR) were released by: Seekingalpha.com and their article: “Tailwinds For Haptics, Headwinds For Immersion Corporation” published on August 09, 2016 as well as Businesswire.com‘s news article titled: “Cannes Lions and Immersion Corporation Partner to Showcase the Power of Touch …” with publication date: June 17, 2016.

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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