Impinj (NASDAQ:PI) Sets New 1-Year High at $45.35

Impinj, Inc. (NASDAQ:PI) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $45.35 and last traded at $45.35, with a volume of 4537 shares. The stock had previously closed at $43.50.

PI has been the subject of several recent analyst reports. ValuEngine downgraded shares of Impinj from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 11th. Piper Sandler increased their price target on shares of Impinj from $29.00 to $48.00 and gave the company an “overweight” rating in a report on Wednesday, December 2nd. The Goldman Sachs Group increased their price target on shares of Impinj from $46.00 to $53.00 and gave the company a “buy” rating in a report on Monday, December 14th. BidaskClub downgraded shares of Impinj from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 30th. Finally, Morgan Stanley increased their price target on shares of Impinj from $26.00 to $38.00 and gave the company an “equal weight” rating in a report on Monday, December 14th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $38.29.

The business’s fifty day moving average price is $40.05 and its 200 day moving average price is $30.63. The company has a market capitalization of $1.03 billion, a P/E ratio of -30.01 and a beta of 2.24. The company has a current ratio of 7.17, a quick ratio of 5.65 and a debt-to-equity ratio of 0.45.

Impinj (NASDAQ:PI) last released its quarterly earnings data on Wednesday, October 28th. The company reported ($0.29) EPS for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.03. The company had revenue of $28.20 million during the quarter, compared to the consensus estimate of $24.90 million. Impinj had a negative net margin of 21.57% and a negative return on equity of 14.90%. Equities research analysts anticipate that Impinj, Inc. will post -1.57 EPS for the current year.

In related news, CEO Chris Ph.D. Diorio sold 2,280 shares of the stock in a transaction dated Wednesday, December 23rd. The shares were sold at an average price of $45.00, for a total transaction of $102,600.00. Following the completion of the sale, the chief executive officer now owns 272,341 shares in the company, valued at approximately $12,255,345. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sylebra Capital Ltd bought 391,743 shares of the company’s stock in a transaction that occurred on Tuesday, November 10th. The shares were purchased at an average price of $31.09 per share, with a total value of $12,179,289.87. The disclosure for this purchase can be found here. Insiders have sold a total of 10,375 shares of company stock valued at $424,202 over the last ninety days. 25.70% of the stock is owned by insiders.

Several institutional investors have recently made changes to their positions in the stock. Polar Asset Management Partners Inc. increased its position in shares of Impinj by 55.0% during the 3rd quarter. Polar Asset Management Partners Inc. now owns 776,007 shares of the company’s stock worth $20,448,000 after purchasing an additional 275,218 shares in the last quarter. Fortis Group Advisors LLC acquired a new stake in shares of Impinj during the 3rd quarter worth about $158,000. Morgan Stanley increased its position in shares of Impinj by 101.0% during the 3rd quarter. Morgan Stanley now owns 294,013 shares of the company’s stock worth $7,747,000 after purchasing an additional 147,703 shares in the last quarter. Truist Financial Corp increased its position in Impinj by 26.7% in the 3rd quarter. Truist Financial Corp now owns 11,668 shares of the company’s stock valued at $307,000 after acquiring an additional 2,460 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Impinj by 23.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 128,993 shares of the company’s stock valued at $3,399,000 after acquiring an additional 24,372 shares in the last quarter. Institutional investors and hedge funds own 82.66% of the company’s stock.

Impinj Company Profile (NASDAQ:PI)

Impinj, Inc operates a platform that enables wireless connectivity to various everyday items 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. The company's platform includes endpoint integrated circuits (ICs), a miniature radios-on-a-chip that attach-to and identify their host items; and connectivity products that comprise reader ICs and modules, readers, and gateways to wirelessly identify, locate, authenticate, and engage items, as well as provide power to and communicate bidirectionally with endpoint ICs.

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