Impinj (NASDAQ:PI) Reaches New 52-Week High at $162.25

Impinj, Inc. (NASDAQ:PI)’s stock price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $162.25 and last traded at $160.98, with a volume of 130424 shares changing hands. The stock had previously closed at $154.66.

Analyst Ratings Changes

A number of research firms have recently weighed in on PI. Piper Sandler reaffirmed an “overweight” rating and issued a $150.00 price objective (up previously from $130.00) on shares of Impinj in a research note on Thursday, April 25th. Canaccord Genuity Group boosted their target price on Impinj from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Needham & Company LLC boosted their target price on Impinj from $130.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. StockNews.com raised Impinj from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. Finally, Susquehanna raised their price objective on Impinj from $130.00 to $140.00 and gave the company a “positive” rating in a research note on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Impinj has an average rating of “Moderate Buy” and an average target price of $132.89.

Impinj Trading Up 2.5 %

The company has a debt-to-equity ratio of 3.29, a quick ratio of 6.87 and a current ratio of 9.42. The company has a 50 day simple moving average of $122.57 and a 200 day simple moving average of $97.47. The company has a market capitalization of $4.40 billion, a PE ratio of -441.89 and a beta of 1.85.

Impinj (NASDAQ:PI) last posted its quarterly earnings results on Wednesday, April 24th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.14. The business had revenue of $76.83 million during the quarter, compared to analyst estimates of $73.57 million. Impinj had a negative return on equity of 60.13% and a negative net margin of 1.90%. Analysts anticipate that Impinj, Inc. will post -0.62 earnings per share for the current year.

Insider Activity at Impinj

In related news, insider Cathal G. Phelan sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $106.23, for a total value of $1,062,300.00. Following the transaction, the insider now directly owns 21,750 shares in the company, valued at $2,310,502.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Impinj news, insider Cathal G. Phelan sold 10,000 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $106.23, for a total transaction of $1,062,300.00. Following the transaction, the insider now directly owns 21,750 shares in the company, valued at $2,310,502.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Umesh Padval sold 3,475 shares of the company’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $151.39, for a total value of $526,080.25. Following the transaction, the director now owns 3,529 shares in the company, valued at $534,255.31. The disclosure for this sale can be found here. Over the last three months, insiders have sold 168,321 shares of company stock worth $19,859,014. Insiders own 17.10% of the company’s stock.

Hedge Funds Weigh In On Impinj

Several hedge funds have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Impinj by 13.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 63,111 shares of the company’s stock worth $7,990,000 after purchasing an additional 7,247 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Impinj by 16.9% during the first quarter. Principal Financial Group Inc. now owns 3,137 shares of the company’s stock worth $403,000 after buying an additional 454 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Impinj by 117.9% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 963 shares of the company’s stock worth $124,000 after buying an additional 521 shares during the last quarter. Wealth Effects LLC grew its holdings in shares of Impinj by 1.0% during the first quarter. Wealth Effects LLC now owns 15,145 shares of the company’s stock worth $1,945,000 after buying an additional 150 shares during the last quarter. Finally, Deltec Asset Management LLC purchased a new position in shares of Impinj during the first quarter worth about $584,000.

About Impinj

Impinj, Inc operates a cloud connectivity platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. Its platform wirelessly connects items and delivers data about the connected items to business and consumer applications. The company's platform comprises endpoint ICs, a miniature radios-on-a-chip that attaches to a host item and includes a number to identify the item.