Impinj (NASDAQ:PI) Sets New 52-Week Low – What’s Next?

Impinj, Inc. (NASDAQ:PI)’s share price reached a new 52-week low on Friday . The company traded as low as $97.94 and last traded at $97.83, with a volume of 189436 shares changing hands. The stock had previously closed at $100.81.

Wall Street Analyst Weigh In

Several research analysts have commented on PI shares. Susquehanna cut their price target on shares of Impinj from $260.00 to $220.00 and set a “positive” rating for the company in a report on Wednesday, January 22nd. Piper Sandler cut their price target on shares of Impinj from $235.00 to $140.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Needham & Company LLC cut their price target on shares of Impinj from $182.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Evercore ISI reissued an “outperform” rating and issued a $270.00 price target (up from $205.00) on shares of Impinj in a report on Thursday, October 24th. Finally, StockNews.com downgraded shares of Impinj from a “hold” rating to a “sell” rating in a report on Friday, January 24th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $180.10.

Impinj Price Performance

The firm has a market capitalization of $2.77 billion, a P/E ratio of 71.24 and a beta of 1.88. The firm’s 50 day simple moving average is $133.21 and its two-hundred day simple moving average is $168.90.

Impinj (NASDAQ:PI) last posted its quarterly earnings results on Wednesday, February 5th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.49). Impinj had a return on equity of 7.11% and a net margin of 11.15%. As a group, equities research analysts forecast that Impinj, Inc. will post -0.47 EPS for the current year.

Insiders Place Their Bets

In other Impinj news, CEO Chris Ph.D. Diorio sold 1,504 shares of the business’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $146.22, for a total value of $219,914.88. Following the transaction, the chief executive officer now owns 331,572 shares in the company, valued at approximately $48,482,457.84. The trade was a 0.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Jeffrey Dossett sold 580 shares of the business’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $146.06, for a total transaction of $84,714.80. Following the transaction, the executive now owns 66,180 shares in the company, valued at $9,666,250.80. This represents a 0.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,466 shares of company stock valued at $789,298 over the last three months. Insiders own 51.00% of the company’s stock.

Hedge Funds Weigh In On Impinj

Hedge funds and other institutional investors have recently modified their holdings of the stock. National Bank of Canada FI bought a new stake in Impinj during the third quarter worth about $30,000. Farther Finance Advisors LLC boosted its stake in Impinj by 1,084.6% during the third quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock worth $33,000 after acquiring an additional 141 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in Impinj during the fourth quarter worth about $29,000. SBI Securities Co. Ltd. bought a new stake in Impinj during the fourth quarter worth about $33,000. Finally, Jones Financial Companies Lllp boosted its stake in Impinj by 205.9% during the fourth quarter. Jones Financial Companies Lllp now owns 260 shares of the company’s stock worth $38,000 after acquiring an additional 175 shares in the last quarter.

Impinj Company Profile

Impinj, Inc operates a cloud connectivity platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. Its platform wirelessly connects items and delivers data about the connected items to business and consumer applications. The company’s platform comprises endpoint ICs, a miniature radios-on-a-chip that attaches to a host item and includes a number to identify the item.