Impinj, Inc. (NASDAQ:PI – Get Free Report)’s stock price was down 4% on Friday after Lake Street Capital lowered their price target on the stock from $130.00 to $90.00. The stock traded as low as $66.07 and last traded at $66.42. Approximately 517,629 shares changed hands during trading, a decline of 11% from the average daily volume of 579,529 shares. The stock had previously closed at $69.22.
PI has been the topic of a number of other reports. BWS Financial began coverage on shares of Impinj in a research note on Monday, June 26th. They set a “sell” rating and a $45.00 price target on the stock. Needham & Company LLC cut their target price on shares of Impinj from $145.00 to $85.00 and set a “buy” rating on the stock in a research note on Thursday. StockNews.com began coverage on shares of Impinj in a research note on Thursday, May 18th. They set a “sell” rating on the stock. TheStreet cut shares of Impinj from a “c-” rating to a “d+” rating in a report on Monday, May 8th. Finally, Piper Sandler dropped their target price on shares of Impinj from $140.00 to $130.00 in a research report on Thursday, April 27th. Two research analysts have rated the stock with a sell rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $112.00.
Insider Activity
In related news, insider Cathal G. Phelan sold 1,811 shares of the firm’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $108.98, for a total transaction of $197,362.78. Following the completion of the sale, the insider now directly owns 19,673 shares of the company’s stock, valued at approximately $2,143,963.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Steve Sanghi acquired 23,500 shares of the business’s stock in a transaction on Monday, May 1st. The stock was bought at an average price of $85.00 per share, with a total value of $1,997,500.00. Following the completion of the acquisition, the director now owns 40,200 shares of the company’s stock, valued at $3,417,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Cathal G. Phelan sold 1,811 shares of the company’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $108.98, for a total value of $197,362.78. Following the completion of the transaction, the insider now directly owns 19,673 shares of the company’s stock, valued at approximately $2,143,963.54. The disclosure for this sale can be found here. Insiders have sold a total of 26,126 shares of company stock valued at $2,480,258 in the last ninety days. Corporate insiders own 17.10% of the company’s stock.
Institutional Trading of Impinj
Several large investors have recently added to or reduced their stakes in PI. Strs Ohio purchased a new stake in Impinj during the 4th quarter worth about $32,000. C M Bidwell & Associates Ltd. acquired a new position in shares of Impinj in the 1st quarter valued at $39,000. Advisors Asset Management Inc. acquired a new stake in Impinj during the 1st quarter worth $39,000. Focused Wealth Management Inc purchased a new position in shares of Impinj during the first quarter worth about $54,000. Finally, Benjamin F. Edwards & Company Inc. boosted its position in shares of Impinj by 671.4% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 540 shares of the company’s stock valued at $59,000 after purchasing an additional 470 shares during the period.
Impinj Price Performance
The company has a quick ratio of 4.02, a current ratio of 5.59 and a debt-to-equity ratio of 10.54. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of -122.16 and a beta of 2.10. The company has a fifty day moving average price of $93.18 and a two-hundred day moving average price of $113.05.
Impinj (NASDAQ:PI – Get Free Report) last posted its quarterly earnings results on Wednesday, April 26th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). Impinj had a negative return on equity of 32.00% and a negative net margin of 4.65%. The company had revenue of $85.90 million for the quarter, compared to analyst estimates of $83.50 million. On average, equities research analysts expect that Impinj, Inc. will post -0.16 EPS for the current fiscal year.
Impinj Company Profile
Impinj, Inc operates a cloud connectivity platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. Its platform, which comprises multiple product families, wirelessly connects individual items and delivers data about the connected items to business and consumer applications. The company’s platform comprises endpoint ICs, a miniature radios-on-a-chip that attaches to a host item and includes a number to identify the item.