IMPINJ (PI) Stock Price Down 17.6%

Shares of IMPINJ Inc (NASDAQ:PI) fell 17.6% during trading on Monday . The stock traded as low as $9.95 and last traded at $11.07. 5,967,100 shares changed hands during trading, an increase of 346% from the average session volume of 1,339,058 shares. The stock had previously closed at $13.43.

Several brokerages have commented on PI. Zacks Investment Research upgraded shares of IMPINJ from a “sell” rating to a “buy” rating and set a $39.00 price objective for the company in a research note on Wednesday, October 25th. Needham & Company LLC decreased their price objective on shares of IMPINJ from $48.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, October 26th. Royal Bank of Canada decreased their target price on shares of IMPINJ from $50.00 to $41.00 and set an “outperform” rating for the company in a research note on Thursday, November 2nd. Piper Jaffray Companies cut shares of IMPINJ from an “overweight” rating to a “neutral” rating in a research note on Thursday, November 2nd. Finally, BidaskClub cut shares of IMPINJ from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $26.29.

The company has a debt-to-equity ratio of 0.06, a current ratio of 7.49 and a quick ratio of 4.97. The firm has a market capitalization of $232.17, a PE ratio of -13.18 and a beta of -1.69.

IMPINJ (NASDAQ:PI) last released its earnings results on Thursday, February 15th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.19) by ($0.09). IMPINJ had a negative return on equity of 5.93% and a negative net margin of 13.82%. The business had revenue of $26.90 million for the quarter, compared to analysts’ expectations of $29.50 million. During the same period in the previous year, the company earned $0.11 EPS. IMPINJ’s quarterly revenue was down 20.2% compared to the same quarter last year. research analysts predict that IMPINJ Inc will post -1.13 earnings per share for the current fiscal year.

In related news, CFO Evan Fein sold 5,700 shares of the company’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $25.01, for a total value of $142,557.00. Following the completion of the sale, the chief financial officer now owns 17,500 shares of the company’s stock, valued at $437,675. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 15.20% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in PI. Bronfman E.L. Rothschild L.P. acquired a new position in IMPINJ in the third quarter valued at about $116,000. Cornerstone Capital Management Holdings LLC. acquired a new position in IMPINJ in the third quarter valued at about $128,000. WealthTrust Arizona LLC acquired a new position in IMPINJ in the fourth quarter valued at about $144,000. PNC Financial Services Group Inc. lifted its position in IMPINJ by 95.1% in the second quarter. PNC Financial Services Group Inc. now owns 3,621 shares of the company’s stock valued at $176,000 after buying an additional 1,765 shares during the last quarter. Finally, MetLife Investment Advisors LLC acquired a new position in IMPINJ in the fourth quarter valued at about $193,000. 74.84% of the stock is owned by hedge funds and other institutional investors.

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IMPINJ Company Profile

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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