Impinj, Inc. (NASDAQ:PI) Short Interest Update

Impinj, Inc. (NASDAQ:PI) saw a significant drop in short interest during the month of February. As of February 15th, there was short interest totalling 3,580,000 shares, a drop of 20.3% from the January 31st total of 4,490,000 shares. Based on an average trading volume of 654,800 shares, the days-to-cover ratio is presently 5.5 days.

Insider Buying and Selling

In other news, insider Cathal G. Phelan sold 210 shares of the business’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $146.06, for a total value of $30,672.60. Following the transaction, the insider now directly owns 6,979 shares of the company’s stock, valued at $1,019,352.74. The trade was a 2.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Chris Ph.D. Diorio sold 8,334 shares of Impinj stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $98.78, for a total value of $823,232.52. Following the completion of the sale, the chief executive officer now owns 354,076 shares of the company’s stock, valued at approximately $34,975,627.28. The trade was a 2.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,323 shares of company stock valued at $2,454,588 over the last ninety days. 51.00% of the stock is owned by company insiders.

Institutional Trading of Impinj

Several hedge funds have recently added to or reduced their stakes in PI. Hillsdale Investment Management Inc. grew its stake in shares of Impinj by 0.4% during the 4th quarter. Hillsdale Investment Management Inc. now owns 24,685 shares of the company’s stock worth $3,586,000 after acquiring an additional 95 shares during the period. Louisiana State Employees Retirement System lifted its stake in shares of Impinj by 0.9% during the 4th quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the company’s stock valued at $1,612,000 after buying an additional 100 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in Impinj by 6.9% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 1,641 shares of the company’s stock worth $238,000 after buying an additional 106 shares during the period. National Bank of Canada FI purchased a new position in Impinj in the 3rd quarter valued at approximately $30,000. Finally, Farther Finance Advisors LLC raised its holdings in Impinj by 1,084.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock valued at $33,000 after acquiring an additional 141 shares during the period.

Analyst Ratings Changes

Several research firms have weighed in on PI. Cantor Fitzgerald raised shares of Impinj to a “strong-buy” rating in a research note on Thursday, February 27th. Needham & Company LLC dropped their price target on Impinj from $182.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. Piper Sandler reduced their price objective on Impinj from $235.00 to $140.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Susquehanna decreased their price objective on Impinj from $260.00 to $220.00 and set a “positive” rating for the company in a report on Wednesday, January 22nd. Finally, The Goldman Sachs Group cut their target price on Impinj from $200.00 to $132.00 and set a “neutral” rating on the stock in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating, one has given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Impinj has an average rating of “Moderate Buy” and an average target price of $180.10.

Impinj Stock Performance

PI traded down $3.37 during mid-day trading on Thursday, reaching $91.46. 123,641 shares of the stock were exchanged, compared to its average volume of 519,225. The company has a 50 day moving average price of $123.50 and a two-hundred day moving average price of $165.47. The stock has a market capitalization of $2.61 billion, a PE ratio of 67.20 and a beta of 1.88. Impinj has a 1 year low of $84.17 and a 1 year high of $239.88.

Impinj (NASDAQ:PI) last announced its quarterly earnings data on Wednesday, February 5th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.49). Impinj had a net margin of 11.15% and a return on equity of 7.11%. Sell-side analysts expect that Impinj will post -0.47 EPS for the current fiscal year.

Impinj Company Profile

Impinj, Inc operates a cloud connectivity platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. Its platform wirelessly connects items and delivers data about the connected items to business and consumer applications. The company’s platform comprises endpoint ICs, a miniature radios-on-a-chip that attaches to a host item and includes a number to identify the item.