IMPINJ (PI) Upgraded to “Buy” at BidaskClub

BidaskClub upgraded shares of IMPINJ (NASDAQ:PI) from a hold rating to a buy rating in a research report released on Thursday morning.

PI has been the subject of a number of other research reports. Zacks Investment Research upgraded shares of IMPINJ from a hold rating to a buy rating and set a $18.00 target price for the company in a research report on Tuesday, January 15th. ValuEngine upgraded shares of IMPINJ from a hold rating to a buy rating in a research report on Monday, December 17th. Finally, Dougherty & Co restated a neutral rating on shares of IMPINJ in a research report on Thursday, February 21st. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. IMPINJ has a consensus rating of Buy and an average price target of $23.33.

Shares of PI stock traded up $0.37 during trading hours on Thursday, reaching $18.65. The stock had a trading volume of 740 shares, compared to its average volume of 240,892. The company has a quick ratio of 3.32, a current ratio of 5.26 and a debt-to-equity ratio of 0.19. IMPINJ has a twelve month low of $11.57 and a twelve month high of $28.48. The stock has a market cap of $392.84 million, a PE ratio of -27.35 and a beta of 2.26.

IMPINJ (NASDAQ:PI) last announced its earnings results on Wednesday, February 20th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.05. The firm had revenue of $34.60 million during the quarter, compared to analyst estimates of $32.00 million. IMPINJ had a negative net margin of 28.73% and a negative return on equity of 17.42%. IMPINJ’s revenue was up 28.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.28) EPS. Equities analysts forecast that IMPINJ will post -0.66 EPS for the current fiscal year.

Several large investors have recently bought and sold shares of PI. BlackRock Inc. boosted its holdings in shares of IMPINJ by 1.3% in the fourth quarter. BlackRock Inc. now owns 1,138,180 shares of the company’s stock worth $16,560,000 after buying an additional 14,164 shares during the period. Toronado Partners LLC acquired a new position in shares of IMPINJ in the fourth quarter worth about $8,987,000. D. E. Shaw & Co. Inc. boosted its holdings in shares of IMPINJ by 33.1% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 355,425 shares of the company’s stock worth $5,171,000 after buying an additional 88,314 shares during the period. Northern Trust Corp boosted its holdings in shares of IMPINJ by 1.9% in the second quarter. Northern Trust Corp now owns 221,038 shares of the company’s stock worth $4,886,000 after buying an additional 4,145 shares during the period. Finally, 361 Capital LLC acquired a new position in shares of IMPINJ in the fourth quarter worth about $1,885,000. Institutional investors own 65.92% of the company’s stock.

IMPINJ Company Profile

Impinj, Inc operates a platform that enables wireless connectivity to everyday items by delivering each item's unique identity, location, and authenticity to business and consumer applications. The company's platform includes endpoint integrated circuits (ICs) product, a miniature radios-on-a-chip, which attach-to and identify their host items; and connectivity layer that comprises readers, gateways, and reader ICs to wirelessly identify, locate, authenticate, and engage endpoints via RAIN, as well as provide power to and communicate bidirectionally with endpoint ICs.

Further Reading: Capital Gains

Receive News & Ratings for IMPINJ Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IMPINJ and related companies with MarketBeat.com's FREE daily email newsletter.