StockNews.com Begins Coverage on Impinj (NASDAQ:PI)

StockNews.com began coverage on shares of Impinj (NASDAQ:PI – Get Rating) in a research note released on Thursday morning. The brokerage issued a sell rating on the stock.

A number of other equities research analysts have also weighed in on PI. Piper Sandler lifted their price objective on Impinj from $120.00 to $140.00 and gave the stock an overweight rating in a research report on Friday, January 27th. Canaccord Genuity Group lifted their price objective on Impinj from $140.00 to $155.00 and gave the stock a buy rating in a research report on Thursday, February 9th. The Goldman Sachs Group lifted their price objective on Impinj from $111.00 to $142.00 and gave the stock a buy rating in a research report on Friday, February 10th. TheStreet upgraded Impinj from a d rating to a c- rating in a research note on Wednesday, February 8th. Finally, Lake Street Capital raised their target price on Impinj from $132.00 to $135.00 in a research note on Thursday, February 9th. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $129.75.

Impinj Stock Performance

NASDAQ:PI opened at $126.13 on Thursday. The business’s 50-day moving average price is $127.96 and its two-hundred day moving average price is $110.59. Impinj has a twelve month low of $39.74 and a twelve month high of $144.90. The company has a quick ratio of 5.40, a current ratio of 6.49 and a debt-to-equity ratio of 17.97.

Impinj (NASDAQ:PI – Get Rating) last announced its quarterly earnings data on Wednesday, February 8th. The company reported $0.04 EPS for the quarter, meeting the consensus estimate of $0.04. The firm had revenue of $76.59 million for the quarter, compared to analyst estimates of $76.20 million. Impinj had a negative return on equity of 62,026.59% and a negative net margin of 9.43%. As a group, equities research analysts predict that Impinj will post 0.13 earnings per share for the current year.

Insider Buying and Selling

In other Impinj news, COO Hussein Mecklai sold 250 shares of the business’s stock in a transaction dated Wednesday, February 1st. The stock was sold at an average price of $133.09, for a total transaction of $33,272.50. Following the completion of the sale, the chief operating officer now owns 22,487 shares of the company’s stock, valued at $2,992,794.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Impinj news, COO Hussein Mecklai sold 250 shares of the business’s stock in a transaction dated Wednesday, February 1st. The stock was sold at an average price of $133.09, for a total transaction of $33,272.50. Following the completion of the sale, the chief operating officer now owns 22,487 shares of the company’s stock, valued at $2,992,794.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Jeffrey Dossett sold 2,000 shares of the business’s stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $110.81, for a total value of $221,620.00. Following the sale, the executive now directly owns 45,487 shares of the company’s stock, valued at approximately $5,040,414.47. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 88,397 shares of company stock valued at $10,952,581 and sold 64,269 shares valued at $8,053,633. 20.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Impinj

Hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. purchased a new position in shares of Impinj in the third quarter valued at about $1,372,000. Jump Financial LLC purchased a new position in shares of Impinj in the third quarter valued at about $1,928,000. Verition Fund Management LLC lifted its position in shares of Impinj by 82.7% in the third quarter. Verition Fund Management LLC now owns 243,577 shares of the company’s stock valued at $19,493,000 after acquiring an additional 110,262 shares in the last quarter. Essex Investment Management Co. LLC lifted its position in shares of Impinj by 3.5% in the second quarter. Essex Investment Management Co. LLC now owns 44,058 shares of the company’s stock valued at $2,585,000 after acquiring an additional 1,491 shares in the last quarter. Finally, Advisory Research Inc. lifted its position in shares of Impinj by 40.8% in the third quarter. Advisory Research Inc. now owns 95,906 shares of the company’s stock valued at $7,675,000 after acquiring an additional 27,783 shares in the last quarter. Institutional investors own 97.32% of the company’s stock.

About Impinj

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IImpinj, Inc engages in the development and sale of radio frequency identification solutions. The company was founded by Christopher Diorio in April 2000 and is headquartered in Seattle, WA.