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.

Impinj (NASDAQ:PI) last posted its earnings results on Wednesday, November 1st. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.04). Impinj had a negative return on equity of 1.15% and a negative net margin of 5.97%. The business had revenue of $32.60 million for the quarter, compared to analyst estimates of $32.58 million. During the same quarter in the prior year, the business earned $0.10 earnings per share. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. analysts predict that Impinj will post -0.41 earnings per share for the current year.

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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About Impinj

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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