IMPINJ Inc (PI) Receives Average Rating of “Hold” from Analysts
IMPINJ Inc (NYSE:PI) has received an average recommendation of “Hold” from the nine brokerages that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $36.20.
A number of equities research analysts have commented on the company. Zacks Investment Research lowered IMPINJ from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 7th. KeyCorp restated a “hold” rating on shares of IMPINJ in a research report on Friday, November 3rd. Dougherty & Co decreased their price objective on IMPINJ from $62.00 to $42.00 and set a “buy” rating for the company in a research report on Thursday, November 2nd. Morgan Stanley decreased their price objective 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. Finally, Needham & Company LLC restated a “buy” rating and set a $34.00 price objective (down from $45.00) on shares of IMPINJ in a research report on Thursday, November 2nd.
In other news, CFO Evan Fein sold 9,000 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $38.00, for a total transaction of $342,000.00. Following the completion of the sale, the chief financial officer now directly owns 15,300 shares of the company’s stock, valued at approximately $581,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Eric Brodersen sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $35.81, for a total value of $250,670.00. Following the sale, the insider now directly owns 101,443 shares of the company’s stock, valued at $3,632,673.83. The disclosure for this sale can be found here. Insiders have sold a total of 37,000 shares of company stock valued at $1,392,420 over the last ninety days.
IMPINJ (NYSE PI) traded down $0.86 during trading hours on Monday, hitting $25.58. The company had a trading volume of 730,381 shares, compared to its average volume of 782,114. IMPINJ has a fifty-two week low of $19.97 and a fifty-two week high of $60.85.
IMPINJ (NYSE:PI) last released its quarterly earnings results on Wednesday, November 1st. The company reported ($0.08) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.04). IMPINJ had a negative net margin of 2.86% and a negative return on equity of 3.11%. The company had revenue of $32.60 million during the quarter, compared to analyst estimates of $32.58 million. During the same quarter last year, the business earned $0.10 EPS. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year.
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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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