IMPINJ (PI) Downgraded to Sell at BidaskClub

BidaskClub cut shares of IMPINJ (NASDAQ:PI) from a hold rating to a sell rating in a report published on Saturday morning.

Several other equities research analysts have also weighed in on PI. Zacks Investment Research lowered IMPINJ from a buy rating to a hold rating in a research report on Thursday, January 10th. ValuEngine lowered IMPINJ from a buy rating to a hold rating in a research report on Wednesday, January 2nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. IMPINJ currently has a consensus rating of Hold and an average target price of $19.40.

IMPINJ stock traded down $0.05 during trading hours on Friday, reaching $15.81. The company had a trading volume of 732,181 shares, compared to its average volume of 194,017. The company has a quick ratio of 3.34, a current ratio of 5.49 and a debt-to-equity ratio of 0.20. IMPINJ has a 12-month low of $9.95 and a 12-month high of $28.48.

IMPINJ (NASDAQ:PI) last posted its earnings results on Monday, October 29th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.14) by $0.09. IMPINJ had a negative return on equity of 20.18% and a negative net margin of 33.58%. The firm had revenue of $34.40 million for the quarter, compared to analysts’ expectations of $33.47 million. During the same period in the previous year, the firm earned ($0.08) earnings per share. The business’s revenue was up 5.5% compared to the same quarter last year. On average, research analysts predict that IMPINJ will post -1.1 EPS for the current fiscal year.

In other IMPINJ news, insider Eric Brodersen sold 7,943 shares of the business’s stock in a transaction on Thursday, November 8th. The stock was sold at an average price of $22.00, for a total value of $174,746.00. Following the sale, the insider now directly owns 68,100 shares of the company’s stock, valued at $1,498,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 26.00% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its position in IMPINJ by 6.3% during the second quarter. BlackRock Inc. now owns 1,220,071 shares of the company’s stock valued at $26,976,000 after acquiring an additional 71,991 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in IMPINJ during the third quarter valued at $387,000. SOL Capital Management CO purchased a new stake in IMPINJ during the third quarter valued at $202,000. Paloma Partners Management Co purchased a new stake in IMPINJ during the third quarter valued at $362,000. Finally, Essex Investment Management Co. LLC purchased a new stake in IMPINJ during the third quarter valued at $461,000. Hedge funds and other institutional investors own 64.51% of the company’s stock.

IMPINJ Company Profile

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.

See Also: Initial Public Offering (IPO)

Analyst Recommendations for IMPINJ (NASDAQ:PI)

Receive News & Ratings for IMPINJ Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IMPINJ and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply