IMPINJ (NASDAQ:PI) was downgraded by equities research analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a report issued on Friday, MarketBeat.com reports. They presently have a $17.00 price target on the stock. Royal Bank of Canada’s price target indicates a potential upside of 39.80% from the stock’s previous close.

PI has been the subject of a number of other reports. Zacks Investment Research cut shares of IMPINJ from a “buy” rating to a “hold” rating in a report on Friday, October 27th. Needham & Company LLC restated a “buy” rating and set a $34.00 price target (down from $45.00) on shares of IMPINJ in a report on Thursday, November 2nd. BidaskClub cut shares of IMPINJ from a “hold” rating to a “sell” rating in a report on Wednesday, December 27th. Canaccord Genuity restated a “buy” rating and set a $35.00 price target (down from $50.00) on shares of IMPINJ in a report on Thursday, November 2nd. Finally, Morgan Stanley decreased their price target on shares of IMPINJ from $29.00 to $27.00 and set an “equal weight” rating for the company in a report on Wednesday, December 13th. Three investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $28.14.

Shares of IMPINJ (NASDAQ:PI) opened at $12.16 on Friday. The company has a quick ratio of 4.97, a current ratio of 7.49 and a debt-to-equity ratio of 0.06. IMPINJ has a fifty-two week low of $12.01 and a fifty-two week high of $60.85.

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

In related news, CFO Evan Fein sold 5,700 shares of the 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 in the company, valued at $437,675. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Clinton Bybee bought 4,000 shares of IMPINJ stock in a transaction that occurred on Thursday, November 9th. The stock was bought at an average price of $24.43 per share, with a total value of $97,720.00. Following the purchase, the director now owns 4,417 shares of the company’s stock, valued at approximately $107,907.31. The disclosure for this purchase can be found here. In the last quarter, insiders sold 14,400 shares of company stock valued at $363,006. 15.20% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bronfman E.L. Rothschild L.P. bought a new stake in shares of 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 worth about $128,000. WealthTrust Arizona LLC acquired a new position in IMPINJ in the fourth quarter worth about $144,000. PNC Financial Services Group Inc. raised 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 worth $176,000 after purchasing an additional 1,765 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in IMPINJ in the second quarter worth about $180,000. Institutional investors and hedge funds own 80.98% of the company’s stock.

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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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