IMPINJ (PI) Lifted to “Strong-Buy” at ValuEngine

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ValuEngine upgraded shares of IMPINJ (NASDAQ:PI) from a buy rating to a strong-buy rating in a research report report published on Tuesday morning, ValuEngine reports.

Several other brokerages also recently weighed in on PI. BidaskClub downgraded shares of IMPINJ from a hold rating to a sell rating in a research note on Saturday, January 19th. Zacks Investment Research cut IMPINJ from a buy rating to a hold rating in a report on Wednesday, January 2nd. Dougherty & Co restated a neutral rating on shares of IMPINJ in a report on Thursday, February 21st. Roth Capital began coverage on IMPINJ in a report on Tuesday, April 23rd. They issued a buy rating and a $27.00 price target for the company. Finally, Canaccord Genuity boosted their target price on IMPINJ from $31.00 to $35.00 and gave the stock a buy rating in a report on Tuesday. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company. IMPINJ presently has an average rating of Buy and an average price target of $31.25.

Shares of PI traded up $0.85 during mid-day trading on Tuesday, reaching $29.53. 21,471 shares of the company’s stock were exchanged, compared to its average volume of 252,454. The company has a current ratio of 4.79, a quick ratio of 3.32 and a debt-to-equity ratio of 0.17. The firm has a market cap of $600.43 million, a PE ratio of -43.24 and a beta of 2.80. IMPINJ has a 52-week low of $12.08 and a 52-week high of $31.10.

IMPINJ (NASDAQ:PI) last announced its earnings results on Monday, April 29th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.15. The business had revenue of $33.10 million for the quarter, compared to analyst estimates of $31.08 million. IMPINJ had a negative net margin of 21.33% and a negative return on equity of 12.32%. The company’s revenue for the quarter was up 31.9% compared to the same quarter last year. During the same period last year, the firm posted ($0.38) earnings per share. As a group, equities research analysts forecast that IMPINJ will post -0.69 EPS for the current fiscal year.

In other news, CEO Chris Ph.D. Diorio sold 10,000 shares of the business’s stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $20.00, for a total transaction of $200,000.00. Following the completion of the sale, the chief executive officer now owns 335,478 shares in the company, valued at approximately $6,709,560. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 26.00% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. MetLife Investment Advisors LLC raised its position in shares of IMPINJ by 56.7% in the 3rd quarter. MetLife Investment Advisors LLC now owns 13,413 shares of the company’s stock valued at $333,000 after purchasing an additional 4,852 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of IMPINJ in the 4th quarter valued at approximately $236,000. Rhumbline Advisers raised its position in shares of IMPINJ by 44.4% in the 4th quarter. Rhumbline Advisers now owns 21,755 shares of the company’s stock valued at $317,000 after purchasing an additional 6,684 shares in the last quarter. LPL Financial LLC raised its position in shares of IMPINJ by 3.3% in the 4th quarter. LPL Financial LLC now owns 25,384 shares of the company’s stock valued at $369,000 after purchasing an additional 808 shares in the last quarter. Finally, 361 Capital LLC acquired a new position in shares of IMPINJ in the 4th quarter valued at approximately $1,885,000. 65.83% of the stock is currently owned by hedge funds and other institutional investors.

About IMPINJ

Impinj, Inc operates a platform that enables wireless connectivity for everyday items by delivering each item's unique identity, location, and authenticity to business and consumer applications. Its integrated platform connects everyday items to applications, delivering real-time information to businesses about items they create, manage, transport, and sell.

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