IMPINJ (PI) Given “Hold” Rating at Canaccord Genuity
PI has been the topic of a number of other reports. Zacks Investment Research upgraded shares of IMPINJ from a sell rating to a buy rating and set a $39.00 price target on the stock in a research report on Wednesday, October 25th. Needham & Company LLC reduced their price target on shares of IMPINJ from $48.00 to $45.00 and set a buy rating on the stock in a research report on Thursday, October 26th. BidaskClub lowered shares of IMPINJ from a buy rating to a hold rating in a research report on Thursday, November 2nd. Royal Bank of Canada reduced their price target on shares of IMPINJ from $50.00 to $41.00 and set an outperform rating on the stock in a research report on Thursday, November 2nd. Finally, Piper Jaffray Companies lowered shares of IMPINJ from an overweight rating to a neutral rating in a research report on Thursday, November 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 company’s stock. The company has an average rating of Hold and a consensus price target of $26.29.
Shares of IMPINJ (NASDAQ PI) opened at $11.07 on Friday. 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 12-month low of $9.95 and a 12-month high of $60.85. The firm has a market cap of $232.01 and a PE ratio of -13.34.
In other IMPINJ news, CFO Evan Fein sold 5,700 shares of the business’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 transaction, the chief financial officer now directly owns 17,500 shares of the company’s stock, valued at $437,675. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 15.20% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. raised its stake in shares of IMPINJ by 95.1% during the second quarter. PNC Financial Services Group Inc. now owns 3,621 shares of the company’s stock worth $176,000 after buying an additional 1,765 shares during the last quarter. Bronfman E.L. Rothschild L.P. bought a new stake in shares of IMPINJ during the third quarter worth approximately $116,000. Cornerstone Capital Management Holdings LLC. bought a new stake in shares of IMPINJ during the third quarter worth approximately $128,000. Citigroup Inc. raised its stake in shares of IMPINJ by 1,144.7% during the second quarter. Citigroup Inc. now owns 4,095 shares of the company’s stock worth $199,000 after buying an additional 3,766 shares during the last quarter. Finally, Pier 88 Investment Partners LLC raised its stake in shares of IMPINJ by 98.0% during the third quarter. Pier 88 Investment Partners LLC now owns 7,678 shares of the company’s stock worth $319,000 after buying an additional 3,800 shares during the last quarter. 74.84% of the stock is owned by 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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