Impinj, Inc. (PI) Given Consensus Recommendation of “Hold” by Brokerages
Shares of Impinj, Inc. (NASDAQ:PI) have been given a consensus rating of “Hold” by the nine research firms that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $35.80.
A number of equities research analysts have weighed in on the company. Royal Bank of Canada reiterated a “buy” rating on shares of Impinj in a research note on Friday, September 29th. BidaskClub upgraded Impinj from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, October 3rd. Dougherty & Co reiterated a “buy” rating and issued a $62.00 price objective on shares of Impinj in a research note on Thursday, September 14th. Zacks Investment Research cut Impinj from a “hold” rating to a “sell” rating in a research note on Wednesday, October 11th. Finally, Needham & Company LLC reduced their price objective on Impinj from $48.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, October 26th.
Impinj (NASDAQ:PI) traded up $1.03 during mid-day trading on Tuesday, reaching $23.56. The company had a trading volume of 537,724 shares, compared to its average volume of 488,608. The stock has a market capitalization of $493.78 and a PE ratio of -62.00. Impinj has a 12-month low of $19.97 and a 12-month high of $60.85. The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.97 and a current ratio of 7.49.
In related news, insider Eric Brodersen sold 7,000 shares of the company’s stock in a transaction on Friday, October 13th. The stock was sold at an average price of $36.85, for a total transaction of $257,950.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Evan Fein sold 3,300 shares of the company’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $25.19, for a total value of $83,127.00. Following the transaction, the chief financial officer now directly owns 15,100 shares in the company, valued at approximately $380,369. The disclosure for this sale can be found here. In the last three months, insiders sold 15,700 shares of company stock worth $478,399. Corporate insiders own 15.20% of the company’s stock.
A number of hedge funds have recently made changes to their positions in PI. BNP Paribas Arbitrage SA boosted its position in Impinj by 1,261.0% during the second quarter. BNP Paribas Arbitrage SA now owns 2,096 shares of the company’s stock worth $102,000 after purchasing an additional 1,942 shares in the last quarter. Bronfman E.L. Rothschild L.P. purchased a new stake in Impinj during the third quarter worth $116,000. Cornerstone Capital Management Holdings LLC. purchased a new stake in Impinj during the third quarter worth $128,000. PNC Financial Services Group Inc. boosted its position in Impinj by 95.1% during the second quarter. PNC Financial Services Group Inc. now owns 3,621 shares of the company’s stock worth $176,000 after purchasing an additional 1,765 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in Impinj during the second quarter worth $180,000. 82.69% of the stock is currently owned by hedge funds and other institutional investors.
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.
Receive News & Ratings for Impinj Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Impinj and related companies with MarketBeat.com's FREE daily email newsletter.