Impinj (NASDAQ:PI) Lifted to “Hold” at StockNews.com

StockNews.com upgraded shares of Impinj (NASDAQ:PI) from a sell rating to a hold rating in a research note published on Friday.

Other analysts have also issued research reports about the company. Needham & Company LLC upped their price objective on Impinj from $130.00 to $160.00 and gave the company a buy rating in a research note on Thursday. Susquehanna upped their price objective on Impinj from $130.00 to $140.00 and gave the company a positive rating in a research note on Tuesday, April 23rd. Roth Mkm upped their price objective on Impinj from $125.00 to $145.00 and gave the company a buy rating in a research note on Thursday. Evercore ISI initiated coverage on Impinj in a research note on Tuesday, April 16th. They issued an outperform rating and a $160.00 price objective on the stock. Finally, Piper Sandler restated an overweight rating and issued a $150.00 price objective (up previously from $130.00) on shares of Impinj in a research note on Thursday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $132.89.

Impinj Stock Down 3.0 %

PI stock opened at $150.91 on Friday. The company has a debt-to-equity ratio of 3.29, a current ratio of 9.42 and a quick ratio of 5.59. The stock has a market capitalization of $4.18 billion, a P/E ratio of -431.17 and a beta of 2.05. The business has a 50-day moving average of $119.23 and a 200-day moving average of $95.58. Impinj has a fifty-two week low of $48.39 and a fifty-two week high of $156.41.

Impinj (NASDAQ:PI) last released its earnings results on Wednesday, April 24th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.14. Impinj had a negative return on equity of 60.13% and a negative net margin of 1.90%. The business had revenue of $76.83 million for the quarter, compared to analyst estimates of $73.57 million. On average, sell-side analysts anticipate that Impinj will post -0.62 earnings per share for the current fiscal year.

Insider Buying and Selling at Impinj

In other news, COO Hussein Mecklai sold 30,000 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $104.80, for a total value of $3,144,000.00. Following the completion of the transaction, the chief operating officer now directly owns 40,489 shares in the company, valued at approximately $4,243,247.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Cary Baker sold 20,000 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $102.14, for a total transaction of $2,042,800.00. Following the completion of the transaction, the chief financial officer now directly owns 55,432 shares of the company’s stock, valued at approximately $5,661,824.48. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Hussein Mecklai sold 30,000 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $104.80, for a total value of $3,144,000.00. Following the transaction, the chief operating officer now directly owns 40,489 shares of the company’s stock, valued at $4,243,247.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 120,185 shares of company stock valued at $12,767,674. 17.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. CWM LLC raised its position in shares of Impinj by 68.3% in the 3rd quarter. CWM LLC now owns 6,157 shares of the company’s stock worth $339,000 after acquiring an additional 2,499 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Impinj by 101.9% in the 3rd quarter. SG Americas Securities LLC now owns 30,894 shares of the company’s stock worth $1,700,000 after acquiring an additional 15,591 shares in the last quarter. Avior Wealth Management LLC raised its position in shares of Impinj by 35.8% in the 3rd quarter. Avior Wealth Management LLC now owns 4,665 shares of the company’s stock worth $257,000 after acquiring an additional 1,229 shares in the last quarter. Asset Management One Co. Ltd. raised its position in shares of Impinj by 74.6% in the 3rd quarter. Asset Management One Co. Ltd. now owns 1,226 shares of the company’s stock worth $67,000 after acquiring an additional 524 shares in the last quarter. Finally, Commonwealth Equity Services LLC raised its position in shares of Impinj by 109.8% in the 3rd quarter. Commonwealth Equity Services LLC now owns 4,730 shares of the company’s stock worth $260,000 after acquiring an additional 2,476 shares in the last quarter.

About Impinj

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.