IMPINJ (PI) Upgraded at BidaskClub

BidaskClub upgraded shares of IMPINJ (NASDAQ:PI) from a hold rating to a buy rating in a report released on Saturday, BidAskClub reports.

PI has been the subject of several other reports. Zacks Investment Research lowered IMPINJ from a buy rating to a hold rating in a report on Wednesday, January 16th. ValuEngine lowered IMPINJ from a buy rating to a hold rating in a report on Monday, April 1st. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has an average rating of Buy and an average price target of $23.33.

Shares of IMPINJ stock opened at $19.60 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 5.26 and a quick ratio of 3.32. The stock has a market capitalization of $421.20 million, a P/E ratio of -28.82 and a beta of 2.25. IMPINJ has a fifty-two week low of $11.57 and a fifty-two week high of $28.48.

IMPINJ (NASDAQ:PI) last announced its quarterly earnings data on Wednesday, February 20th. The company reported ($0.09) earnings per share for the quarter, beating the Thomson Reuters’ 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 return on equity of 17.42% and a negative net margin of 28.73%. IMPINJ’s quarterly revenue was up 28.6% on a year-over-year basis. During the same period in the previous year, the company earned ($0.28) earnings per share. Equities research analysts anticipate that IMPINJ will post -0.66 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its position in shares of IMPINJ by 1.3% during the 4th quarter. BlackRock Inc. now owns 1,138,180 shares of the company’s stock valued at $16,560,000 after acquiring an additional 14,164 shares during the last quarter. Toronado Partners LLC acquired a new stake in shares of IMPINJ during the 4th quarter valued at $8,987,000. D. E. Shaw & Co. Inc. lifted its position in shares of IMPINJ by 33.1% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 355,425 shares of the company’s stock valued at $5,171,000 after acquiring an additional 88,314 shares during the last quarter. 361 Capital LLC acquired a new stake in shares of IMPINJ during the 4th quarter valued at $1,885,000. Finally, Barclays PLC lifted its position in shares of IMPINJ by 11.1% during the 4th quarter. Barclays PLC now owns 126,411 shares of the company’s stock valued at $1,840,000 after acquiring an additional 12,633 shares during the last quarter. Hedge funds and other 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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