IMPINJ Inc (PI) Receives Average Rating of “Buy” from Analysts

IMPINJ Inc (NASDAQ:PI) has received an average recommendation of “Buy” from the six ratings firms that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $23.33.

A number of research firms have issued reports on PI. Zacks Investment Research lowered IMPINJ from a “buy” rating to a “hold” rating in a research report on Wednesday, January 30th. BidaskClub raised IMPINJ from a “sell” rating to a “hold” rating in a research report on Saturday, January 12th. Dougherty & Co reaffirmed a “neutral” rating on shares of IMPINJ in a research report on Thursday, February 21st. Finally, ValuEngine lowered IMPINJ from a “buy” rating to a “hold” rating in a research report on Wednesday, January 2nd.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Citigroup Inc. increased its holdings in shares of IMPINJ by 14,485.7% in the 4th quarter. Citigroup Inc. now owns 2,042 shares of the company’s stock valued at $30,000 after acquiring an additional 2,028 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its holdings in shares of IMPINJ by 363.7% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 6,186 shares of the company’s stock valued at $90,000 after acquiring an additional 4,852 shares during the last quarter. MetLife Investment Advisors LLC increased its holdings 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 acquiring an additional 4,852 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of IMPINJ by 5.3% in the 4th quarter. Bank of America Corp DE now owns 14,086 shares of the company’s stock valued at $205,000 after acquiring an additional 711 shares during the last quarter. Finally, Paloma Partners Management Co purchased a new position in shares of IMPINJ in the 3rd quarter valued at about $362,000. Institutional investors and hedge funds own 65.85% of the company’s stock.

PI traded up $0.05 during mid-day trading on Friday, hitting $19.82. 227,783 shares of the stock were exchanged, compared to its average volume of 146,538. IMPINJ has a 1-year low of $11.57 and a 1-year high of $28.48. The company has a current ratio of 5.26, a quick ratio of 3.32 and a debt-to-equity ratio of 0.19. The firm has a market cap of $426.01 million, a price-to-earnings ratio of -29.15 and a beta of 2.25.

IMPINJ (NASDAQ:PI) last posted its earnings results on Wednesday, February 20th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.14) by $0.05. IMPINJ had a negative return on equity of 17.42% and a negative net margin of 28.73%. The firm had revenue of $34.60 million for the quarter, compared to analyst estimates of $32.00 million. During the same quarter in the prior year, the company earned ($0.28) EPS. IMPINJ’s revenue was up 28.6% on a year-over-year basis. On average, research analysts forecast that IMPINJ will post -0.66 earnings per share for the current year.

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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