Immersion Co. (NASDAQ:IMMR) Sees Large Drop in Short Interest

Immersion Co. (NASDAQ:IMMR) saw a significant decrease in short interest in the month of January. As of January 31st, there was short interest totalling 3,190,000 shares, a decrease of 5.6% from the January 15th total of 3,380,000 shares. Based on an average daily trading volume, of 781,500 shares, the days-to-cover ratio is presently 4.1 days. Approximately 11.3% of the company’s shares are short sold.

Analyst Ratings Changes

Separately, BWS Financial reiterated a “buy” rating and set a $13.50 price objective on shares of Immersion in a research report on Wednesday, February 5th.

Institutional Investors Weigh In On Immersion

A number of large investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company lifted its stake in shares of Immersion by 10.2% in the second quarter. The Manufacturers Life Insurance Company now owns 12,315 shares of the software maker’s stock valued at $116,000 after buying an additional 1,139 shares in the last quarter. Hanseatic Management Services Inc. lifted its stake in shares of Immersion by 2.6% in the third quarter. Hanseatic Management Services Inc. now owns 54,679 shares of the software maker’s stock valued at $488,000 after buying an additional 1,411 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Immersion by 5.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 32,443 shares of the software maker’s stock valued at $284,000 after buying an additional 1,604 shares in the last quarter. ProShare Advisors LLC lifted its stake in shares of Immersion by 8.5% in the fourth quarter. ProShare Advisors LLC now owns 26,318 shares of the software maker’s stock valued at $230,000 after buying an additional 2,064 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Immersion by 2.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 86,910 shares of the software maker’s stock valued at $775,000 after buying an additional 2,416 shares in the last quarter. 60.57% of the stock is currently owned by institutional investors and hedge funds.

Immersion Trading Up 0.2 %

NASDAQ:IMMR opened at $8.64 on Wednesday. The company has a current ratio of 1.65, a quick ratio of 0.94 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $278.86 million, a price-to-earnings ratio of 3.09 and a beta of 1.50. The firm has a fifty day simple moving average of $8.69 and a two-hundred day simple moving average of $8.87. Immersion has a 12 month low of $6.54 and a 12 month high of $13.94.

Immersion (NASDAQ:IMMR) last posted its quarterly earnings results on Monday, December 16th. The software maker reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.68. Immersion had a net margin of 11.79% and a return on equity of 28.08%. Analysts expect that Immersion will post 1.57 EPS for the current fiscal year.

Immersion Company Profile

Immersion Corporation, together with its subsidiaries, engages in the creation, design, development, and licensing of 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.