IMPINJ (PI) Lowered to “Hold” at ValuEngine

ValuEngine lowered shares of IMPINJ (NASDAQ:PI) from a buy rating to a hold rating in a research report report published on Monday morning, ValuEngine reports.

A number of other equities research analysts have also commented on the company. BidaskClub lowered IMPINJ from a buy rating to a hold rating in a research report on Wednesday, March 27th. Dougherty & Co reiterated a neutral rating on shares of IMPINJ in a research report on Thursday, February 21st. Finally, Zacks Investment Research upgraded IMPINJ from a hold rating to a buy rating and set a $22.00 price target on the stock in a research report on Friday, February 22nd. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. IMPINJ has a consensus rating of Buy and a consensus target price of $23.33.

Shares of PI opened at $17.44 on Monday. IMPINJ has a 12-month low of $11.57 and a 12-month high of $28.48. The company has a quick ratio of 3.32, a current ratio of 5.26 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $360.14 million, a price-to-earnings ratio of -25.65 and a beta of 2.25.

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

Institutional investors have recently made changes to their positions in the stock. Citigroup Inc. boosted its holdings in IMPINJ by 14,485.7% in the fourth quarter. Citigroup Inc. now owns 2,042 shares of the company’s stock worth $30,000 after acquiring an additional 2,028 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its holdings in IMPINJ by 363.7% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 6,186 shares of the company’s stock worth $90,000 after acquiring an additional 4,852 shares in the last quarter. Bank of America Corp DE boosted its holdings in IMPINJ by 5.3% in the fourth quarter. Bank of America Corp DE now owns 14,086 shares of the company’s stock worth $205,000 after acquiring an additional 711 shares in the last quarter. Virtu Financial LLC bought a new position in IMPINJ in the fourth quarter worth approximately $236,000. Finally, Two Sigma Investments LP boosted its holdings in IMPINJ by 52.0% in the fourth quarter. Two Sigma Investments LP now owns 17,940 shares of the company’s stock worth $261,000 after acquiring an additional 6,140 shares in the last quarter. Institutional investors own 65.85% 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.

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