Impinj, Inc. (NASDAQ:PI) had its target price decreased by Dougherty & Co from $62.00 to $42.00 in a report published on Thursday, November 2nd, Marketbeat Ratings reports. Dougherty & Co currently has a buy rating on the stock.
Other analysts have also issued research reports about the stock. Canaccord Genuity reaffirmed a buy rating and set a $50.00 target price (down previously from $57.00) on shares of Impinj in a report on Friday, August 4th. Royal Bank Of Canada lowered their target price on shares of Impinj from $50.00 to $41.00 and set an outperform rating for the company in a report on Thursday, November 2nd. Piper Jaffray Companies lowered shares of Impinj from an overweight rating to a neutral rating in a report on Thursday, November 2nd. Needham & Company LLC reduced their price target on shares of Impinj from $48.00 to $45.00 and set a buy rating on the stock in a research report on Thursday, October 26th. Finally, BidaskClub cut shares of Impinj from a buy rating to a hold rating in a research report on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. Impinj currently has a consensus rating of Hold and an average price target of $36.67.
Impinj (NASDAQ PI) traded down $0.23 during trading hours on Thursday, hitting $25.00. 564,026 shares of the stock were exchanged, compared to its average volume of 757,679. Impinj has a 52 week low of $19.97 and a 52 week high of $60.85. 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 posted its earnings results on Wednesday, November 1st. The company reported ($0.08) earnings per share (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 quarter last year, the firm posted $0.10 EPS. The business’s revenue was up 5.2% on a year-over-year basis. sell-side analysts anticipate that Impinj will post -0.31 EPS for the current year.
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In other Impinj news, CFO Evan Fein sold 9,000 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $38.00, for a total transaction of $342,000.00. Following the sale, the chief financial officer now directly owns 15,300 shares of the company’s stock, valued at approximately $581,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Clinton Bybee purchased 4,000 shares of the business’s stock in a transaction on Thursday, November 9th. The shares were acquired at an average cost of $24.43 per share, for a total transaction of $97,720.00. Following the completion of the transaction, the director now directly owns 4,417 shares in the company, valued at $107,907.31. The disclosure for this purchase can be found here. Insiders sold a total of 42,400 shares of company stock worth $1,529,742 over the last ninety days. 15.20% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. Columbus Circle Investors acquired a new position in shares of Impinj during the 2nd quarter worth about $3,382,000. Pier 88 Investment Partners LLC increased its stake in shares of Impinj by 98.0% during the 3rd quarter. Pier 88 Investment Partners LLC now owns 7,678 shares of the company’s stock worth $319,000 after purchasing an additional 3,800 shares during the last quarter. First Mercantile Trust Co. acquired a new position in shares of Impinj during the 2nd quarter worth about $178,000. Geode Capital Management LLC increased its stake in shares of Impinj by 4.6% during the 1st quarter. Geode Capital Management LLC now owns 69,703 shares of the company’s stock worth $2,109,000 after purchasing an additional 3,050 shares during the last quarter. Finally, Chevy Chase Trust Holdings Inc. acquired a new position in shares of Impinj during the 2nd quarter worth about $13,899,000. Institutional investors own 74.47% of the company’s stock.
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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