Impinj (NASDAQ:PI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Thursday.
According to Zacks, “Impinj, Inc. is a provider of referral and information network radio frequency identification solutions to the retail, pharmaceutical, healthcare, food and beverage and other industries. The company’s products include Indy Reader Chips which consists of integrated radio chips and supporting SDKs; Monza Tag Chips, which deliver memory options and extended features to RFID tags and Speedway fixed RFID readers and antennas for RFID-based information. Impinj, Inc. is based in Seattle, Washington. “
Other analysts have also issued reports about the company. Dougherty & Co decreased their target price on Impinj from $62.00 to $42.00 and set a “buy” rating for the company in a research report on Thursday, November 2nd. Royal Bank of Canada decreased their target price on Impinj from $50.00 to $41.00 and set an “outperform” rating for the company in a research report on Thursday, November 2nd. Piper Jaffray Companies lowered Impinj from an “overweight” rating to a “neutral” rating in a research report on Thursday, November 2nd. KeyCorp reaffirmed a “hold” rating on shares of Impinj in a research report on Friday, November 3rd. Finally, Morgan Stanley decreased their target price on Impinj from $37.00 to $29.00 and set an “equal weight” rating for the company in a research report on Thursday, November 2nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $36.33.
Shares of Impinj (NASDAQ:PI) traded up $0.11 during trading on Thursday, reaching $23.41. The company had a trading volume of 263,000 shares, compared to its average volume of 457,963. Impinj has a twelve month low of $19.97 and a twelve month high of $60.85. The company has a market cap of $490.63 and a price-to-earnings ratio of -61.61. The company has a debt-to-equity ratio of 0.06, a current ratio of 7.49 and a quick ratio of 4.97.
Impinj (NASDAQ:PI) last issued its earnings results on Wednesday, November 1st. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.04). Impinj had a negative net margin of 5.97% and a negative return on equity of 1.15%. The firm had revenue of $32.60 million during the quarter, compared to the consensus estimate of $32.58 million. During the same period in the previous year, the firm earned $0.10 earnings per share. The business’s quarterly revenue was up 5.2% on a year-over-year basis. sell-side analysts predict that Impinj will post -0.41 earnings per share for the current fiscal year.
In other Impinj news, CFO Evan Fein sold 3,300 shares of Impinj stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $25.19, for a total transaction of $83,127.00. Following the completion of the transaction, the chief financial officer now owns 15,100 shares in the company, valued at approximately $380,369. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Eric Brodersen sold 5,400 shares of Impinj stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $25.43, for a total value of $137,322.00. Following the transaction, the insider now owns 78,743 shares of the company’s stock, valued at approximately $2,002,434.49. The disclosure for this sale can be found here. 15.20% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Hartline Investment Corp boosted its stake in shares of Impinj by 34.6% in the 3rd quarter. Hartline Investment Corp now owns 79,831 shares of the company’s stock worth $3,322,000 after buying an additional 20,501 shares during the last quarter. Rainier Group Investment Advisory LLC purchased a new position in shares of Impinj in the 3rd quarter worth approximately $208,000. Neuberger Berman Group LLC purchased a new position in shares of Impinj in the 3rd quarter worth approximately $1,199,000. Bamco Inc. NY boosted its stake in shares of Impinj by 60.0% in the 3rd quarter. Bamco Inc. NY now owns 80,000 shares of the company’s stock worth $3,329,000 after buying an additional 30,000 shares during the last quarter. Finally, Cornerstone Capital Management Holdings LLC. purchased a new position in shares of Impinj in the 3rd quarter worth approximately $128,000. Hedge funds and other institutional investors own 82.69% of the company’s stock.
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Impinj Company Profile
Impinj, Inc is a provider of RAIN radio frequency identification (RFID) solutions. The Company sells a platform that includes endpoint integrated circuits (ICs), reader ICs, readers and gateways that enable wireless connectivity to everyday items, and software that delivers Item Intelligence from endpoint reads.
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