IMPINJ (PI) Trading 5.5% Higher

Shares of IMPINJ Inc (NASDAQ:PI) traded up 5.5% during mid-day trading on Thursday . The stock traded as high as $14.39 and last traded at $14.14. 528,414 shares were traded during trading, a decline of 45% from the average session volume of 967,567 shares. The stock had previously closed at $13.40.

Several analysts have issued reports on PI shares. Canaccord Genuity lowered IMPINJ from a “buy” rating to a “hold” rating and dropped their price objective for the company from $35.00 to $20.00 in a research note on Friday, February 2nd. Needham & Company LLC lowered IMPINJ from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. BidaskClub upgraded IMPINJ from a “strong sell” rating to a “sell” rating in a research note on Thursday, March 1st. ValuEngine lowered IMPINJ from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Finally, Dougherty & Co lowered IMPINJ from a “buy” rating to a “neutral” rating in a research note on Friday, February 2nd. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. IMPINJ has an average rating of “Hold” and an average price target of $26.29.

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The company has a market capitalization of $272.65, a price-to-earnings ratio of -48.76 and a beta of 1.54. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.52 and a quick ratio of 4.15.

IMPINJ (NASDAQ:PI) last issued its quarterly earnings results on Thursday, February 15th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.19) by ($0.09). The company had revenue of $26.90 million for the quarter, compared to analyst estimates of $29.50 million. IMPINJ had a negative return on equity of 6.01% and a negative net margin of 13.82%. The company’s quarterly revenue was down 20.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.11 EPS. equities analysts expect that IMPINJ Inc will post -1.37 earnings per share for the current fiscal year.

In other IMPINJ news, Director Oppen Peter H. Van bought 47,773 shares of IMPINJ stock in a transaction on Friday, February 23rd. The shares were purchased at an average price of $12.61 per share, with a total value of $602,417.53. Following the acquisition, the director now owns 82,455 shares in the company, valued at approximately $1,039,757.55. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Evan Fein sold 5,700 shares of the firm’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $25.01, for a total value of $142,557.00. Following the completion of the sale, the chief financial officer now directly owns 17,500 shares in the company, valued at approximately $437,675. The disclosure for this sale can be found here. Company insiders own 15.20% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN boosted its stake in shares of IMPINJ by 66.5% in the 3rd quarter. Wells Fargo & Company MN now owns 28,463 shares of the company’s stock worth $1,184,000 after buying an additional 11,365 shares during the last quarter. Stifel Financial Corp purchased a new position in IMPINJ in the third quarter worth $269,000. Taylor Frigon Capital Management LLC purchased a new position in IMPINJ in the fourth quarter worth $2,056,000. ARK Investment Management LLC grew its position in IMPINJ by 162.2% in the fourth quarter. ARK Investment Management LLC now owns 89,057 shares of the company’s stock worth $2,006,000 after acquiring an additional 55,092 shares in the last quarter. Finally, New York State Common Retirement Fund grew its position in IMPINJ by 21.1% in the third quarter. New York State Common Retirement Fund now owns 46,232 shares of the company’s stock worth $1,924,000 after acquiring an additional 8,046 shares in the last quarter. 79.06% of the stock is currently owned by institutional investors.

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About IMPINJ

Impinj, Inc operates a platform that enables wireless connectivity to everyday items by delivering each item's unique identity, location, and authenticity to business and consumer applications. The company's platform includes endpoint integrated circuits (ICs) product, a miniature radios-on-a-chip, which attach-to and identify their host items; and connectivity layer that comprises readers, gateways, and reader ICs to wirelessly identify, locate, authenticate, and engage endpoints via RAIN, as well as provide power to and communicate bidirectionally with endpoint ICs.

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