IMPINJ (NASDAQ:PI) Rating Lowered to Hold at ValuEngine

IMPINJ (NASDAQ:PI) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a note issued to investors on Monday, April 1st, ValuEngine reports.

A number of other research analysts also recently weighed in on the stock. Zacks Investment Research upgraded shares of IMPINJ from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a report on Tuesday, January 15th. BidaskClub lowered shares of IMPINJ from a “buy” rating to a “hold” rating in a research note on Wednesday, March 27th. Finally, Dougherty & Co reiterated a “neutral” rating on shares of IMPINJ in a research note on Thursday, February 21st. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $24.25.

NASDAQ:PI traded up $0.22 during trading hours on Monday, reaching $21.57. 198,704 shares of the company’s stock were exchanged, compared to its average volume of 204,030. The stock has a market capitalization of $463.63 million, a price-to-earnings ratio of -31.72 and a beta of 2.25. IMPINJ has a 12 month low of $11.57 and a 12 month high of $28.48. The company has a debt-to-equity ratio of 0.19, a quick ratio of 3.32 and a current ratio of 5.26.

IMPINJ (NASDAQ:PI) last posted its quarterly earnings data on Wednesday, February 20th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.05. IMPINJ had a negative net margin of 28.73% and a negative return on equity of 17.42%. The firm had revenue of $34.60 million during the quarter, compared to analyst estimates of $32.00 million. During the same quarter last year, the business posted ($0.28) EPS. The company’s revenue was up 28.6% on a year-over-year basis. On average, sell-side analysts expect that IMPINJ will post -0.66 EPS for the current fiscal year.

In other IMPINJ news, CEO Chris Ph.D. Diorio sold 10,000 shares of the company’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $20.00, for a total transaction of $200,000.00. Following the sale, the chief executive officer now directly owns 325,478 shares of the company’s stock, valued at $6,509,560. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 26.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Citigroup Inc. raised its holdings in IMPINJ by 14,485.7% during the 4th quarter. Citigroup Inc. now owns 2,042 shares of the company’s stock worth $30,000 after purchasing an additional 2,028 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its holdings in IMPINJ by 363.7% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 6,186 shares of the company’s stock worth $90,000 after purchasing an additional 4,852 shares during the last quarter. Bank of America Corp DE raised its holdings in IMPINJ by 5.3% during the 4th quarter. Bank of America Corp DE now owns 14,086 shares of the company’s stock worth $205,000 after purchasing an additional 711 shares during the last quarter. Virtu Financial LLC bought a new position in IMPINJ during the 4th quarter worth approximately $236,000. Finally, Two Sigma Investments LP grew its position in shares of IMPINJ by 52.0% during the 4th quarter. Two Sigma Investments LP now owns 17,940 shares of the company’s stock worth $261,000 after buying an additional 6,140 shares during the period. Institutional investors and hedge funds own 65.85% of the company’s stock.

IMPINJ Company Profile

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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