Immersion Co. (NASDAQ:IMMR – Get Free Report) was the target of a significant decrease in short interest in August. As of August 31st, there was short interest totalling 1,110,000 shares, a decrease of 15.9% from the August 15th total of 1,320,000 shares. Based on an average daily trading volume, of 457,500 shares, the days-to-cover ratio is presently 2.4 days. Approximately 3.7% of the shares of the stock are sold short.
Analysts Set New Price Targets
Separately, StockNews.com began coverage on Immersion in a research note on Thursday, August 17th. They set a “buy” rating for the company.
Institutional Inflows and Outflows
Immersion Stock Performance
Shares of Immersion stock traded up $0.07 on Tuesday, reaching $6.79. 235,069 shares of the company’s stock were exchanged, compared to its average volume of 434,107. Immersion has a 52 week low of $4.85 and a 52 week high of $9.25. The firm’s 50-day moving average is $7.00 and its two-hundred day moving average is $7.34. The company has a market capitalization of $218.91 million, a P/E ratio of 5.26 and a beta of 1.44.
Immersion (NASDAQ:IMMR – Get Free Report) last issued its quarterly earnings data on Friday, August 11th. The software maker reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.05. Immersion had a net margin of 114.74% and a return on equity of 23.88%. The firm had revenue of $6.98 million during the quarter, compared to analysts’ expectations of $8.02 million. On average, analysts expect that Immersion will post 0.75 EPS for the current fiscal year.
Immersion Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Monday, October 16th will be issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 1.77%. The ex-dividend date is Friday, October 13th. Immersion’s dividend payout ratio (DPR) is presently 9.30%.
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.
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