Immersion Co. (NASDAQ:IMMR) Short Interest Down 8.2% in November

Immersion Co. (NASDAQ:IMMR) was the target of a large decrease in short interest during the month of November. As of November 30th, there was short interest totalling 3,140,000 shares, a decrease of 8.2% from the November 15th total of 3,420,000 shares. Based on an average daily trading volume, of 605,500 shares, the days-to-cover ratio is currently 5.2 days. Approximately 10.9% of the shares of the stock are short sold.

Hedge Funds Weigh In On Immersion

A number of hedge funds have recently made changes to their positions in the stock. Quarry LP acquired a new position in shares of Immersion in the 2nd quarter worth approximately $26,000. Copeland Capital Management LLC acquired a new stake in Immersion during the 3rd quarter worth about $59,000. CWM LLC grew its stake in Immersion by 160.3% during the second quarter. CWM LLC now owns 6,487 shares of the software maker’s stock worth $61,000 after purchasing an additional 3,995 shares during the period. Quantbot Technologies LP bought a new stake in Immersion in the third quarter worth approximately $78,000. Finally, Caprock Group LLC bought a new position in shares of Immersion during the 2nd quarter worth approximately $107,000. 60.57% of the stock is currently owned by institutional investors.

Immersion Trading Up 0.6 %

Shares of IMMR stock opened at $9.79 on Wednesday. Immersion has a twelve month low of $6.54 and a twelve month high of $13.94. The stock’s fifty day simple moving average is $8.72 and its 200 day simple moving average is $9.58. The company has a quick ratio of 0.72, a current ratio of 1.55 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $315.98 million, a P/E ratio of 4.78 and a beta of 1.51.

Immersion (NASDAQ:IMMR) last issued its quarterly earnings data on Monday, December 16th. The software maker reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.68. Immersion had a net margin of 40.62% and a return on equity of 27.05%. As a group, sell-side analysts predict that Immersion will post 1.96 EPS for the current fiscal year.

Immersion Dividend Announcement

The business also recently declared a None dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 10th will be given a $0.245 dividend. The ex-dividend date is Friday, January 10th. Immersion’s dividend payout ratio (DPR) is presently 8.78%.

Analysts Set New Price Targets

Several research analysts have commented on the company. StockNews.com raised Immersion from a “hold” rating to a “buy” rating in a research note on Thursday, August 29th. BWS Financial upped their price objective on shares of Immersion from $11.00 to $13.50 and gave the stock a “buy” rating in a research report on Monday, August 26th.

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.