IMPINJ (PI) Rating Reiterated by Canaccord Genuity

IMPINJ (NASDAQ:PI)‘s stock had its “hold” rating reiterated by Canaccord Genuity in a research report issued on Friday.

A number of other equities analysts have also recently commented on the stock. Piper Jaffray Companies raised shares of IMPINJ from a “neutral” rating to an “overweight” rating in a research report on Tuesday, February 6th. Morgan Stanley reduced their price objective on shares of IMPINJ from $27.00 to $14.00 and set an “equal weight” rating for the company in a research report on Monday, February 5th. Dougherty & Co cut shares of IMPINJ from a “buy” rating to a “neutral” rating in a research report on Friday, February 2nd. Needham & Company LLC cut shares of IMPINJ from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Finally, Royal Bank of Canada cut shares of IMPINJ from an “outperform” rating to a “sector perform” rating and set a $17.00 price objective for the company. in a research report on Friday, February 2nd. Three research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. IMPINJ currently has an average rating of “Hold” and an average price target of $26.29.

IMPINJ (NASDAQ:PI) opened at $11.07 on Friday. IMPINJ has a 52 week low of $9.95 and a 52 week high of $60.85. The company has a quick ratio of 4.97, a current ratio of 7.49 and a debt-to-equity ratio of 0.06. The firm has a market cap of $191.24 and a price-to-earnings ratio of -13.34.

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

In other news, CFO Evan Fein sold 5,700 shares of IMPINJ stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $25.01, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 15.20% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Bronfman E.L. Rothschild L.P. acquired a new stake in shares of IMPINJ during the third quarter worth $116,000. Cornerstone Capital Management Holdings LLC. acquired a new position in IMPINJ in the third quarter valued at about $128,000. PNC Financial Services Group Inc. raised its stake 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 purchasing an additional 1,765 shares in the last quarter. Citigroup Inc. raised its stake in IMPINJ by 1,144.7% in the second quarter. Citigroup Inc. now owns 4,095 shares of the company’s stock valued at $199,000 after purchasing an additional 3,766 shares in the last quarter. Finally, Rainier Group Investment Advisory LLC acquired a new position in IMPINJ in the third quarter valued at about $208,000. 79.29% of the stock is owned by 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.

Analyst Recommendations for IMPINJ (NASDAQ:PI)

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