Impinj (PI) Stock Rating Lowered by BidaskClub
Impinj (NASDAQ:PI) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Wednesday.
A number of other research analysts also recently issued reports on the stock. Morgan Stanley dropped their price target on shares of Impinj from $29.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 13th. Zacks Investment Research downgraded shares of 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 dropped their price target on shares of Impinj from $62.00 to $42.00 and set a “buy” rating on the stock in a research report on Thursday, November 2nd. Finally, Needham & Company LLC restated a “buy” rating and issued a $34.00 price target (down previously from $45.00) on shares of Impinj in a research report on Thursday, November 2nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $36.33.
Shares of Impinj (NASDAQ PI) opened at $22.05 on Wednesday. The company has a current ratio of 7.49, a quick ratio of 4.97 and a debt-to-equity ratio of 0.06. Impinj has a 1 year low of $19.97 and a 1 year high of $60.85. The company has a market cap of $460.24 and a P/E ratio of -58.03.
In other Impinj news, Director Clinton Bybee purchased 4,000 shares of Impinj stock in a transaction on Thursday, November 9th. The shares were acquired at an average cost of $24.43 per share, for a total transaction of $97,720.00. Following the completion of the transaction, the director now directly owns 4,417 shares of the company’s stock, valued at $107,907.31. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CFO Evan Fein sold 3,300 shares of the stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $25.19, for a total transaction of $83,127.00. Following the transaction, the chief financial officer now owns 15,100 shares in the company, valued at $380,369. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,700 shares of company stock valued at $478,399. Company insiders own 15.20% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. lifted its stake in Impinj by 60.7% in the second quarter. Russell Investments Group Ltd. now owns 32,058 shares of the company’s stock worth $1,559,000 after acquiring an additional 12,108 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in Impinj by 216.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 30,100 shares of the company’s stock worth $1,465,000 after acquiring an additional 20,600 shares during the period. Rhumbline Advisers purchased a new stake in Impinj in the second quarter worth $933,000. Legal & General Group Plc lifted its stake in Impinj by 221.3% in the second quarter. Legal & General Group Plc now owns 4,520 shares of the company’s stock worth $223,000 after acquiring an additional 3,113 shares during the period. Finally, BNP Paribas Arbitrage SA lifted its stake in Impinj by 1,261.0% in the second quarter. BNP Paribas Arbitrage SA now owns 2,096 shares of the company’s stock worth $102,000 after acquiring an additional 1,942 shares during the period. 82.69% of the stock is owned by hedge funds and other institutional investors.
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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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