IMPINJ (NASDAQ:PI) Upgraded to Buy at ValuEngine

ValuEngine upgraded shares of IMPINJ (NASDAQ:PI) from a hold rating to a buy rating in a research report sent to investors on Monday, February 4th.

Other research analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of IMPINJ from a hold rating to a buy rating and set a $17.00 price objective for the company in a report on Friday, January 25th. BidaskClub upgraded shares of IMPINJ from a hold rating to a buy rating in a report on Saturday, November 3rd. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $23.33.

PI stock opened at $17.12 on Monday. The stock has a market capitalization of $367.57 million, a PE ratio of -25.18 and a beta of 2.24. The company has a debt-to-equity ratio of 0.20, a current ratio of 5.49 and a quick ratio of 3.34. IMPINJ has a 12 month low of $11.57 and a 12 month high of $28.48.

IMPINJ (NASDAQ:PI) last posted its earnings results on Wednesday, February 20th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.05. The firm had revenue of $34.60 million during the quarter, compared to analysts’ expectations of $32.00 million. IMPINJ had a negative net margin of 28.73% and a negative return on equity of 17.16%. The business’s revenue for the quarter was up 28.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.28) earnings per share. As a group, analysts anticipate that IMPINJ will post -0.66 EPS for the current year.

Large investors have recently added to or reduced their stakes in the business. Citigroup Inc. increased its position in IMPINJ by 14,485.7% during the 4th quarter. Citigroup Inc. now owns 2,042 shares of the company’s stock valued at $30,000 after purchasing an additional 2,028 shares during the period. Metropolitan Life Insurance Co. NY increased its position in IMPINJ by 363.7% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 6,186 shares of the company’s stock valued at $90,000 after purchasing an additional 4,852 shares during the period. Benjamin F. Edwards & Company Inc. increased its position in IMPINJ by 433.3% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 4,800 shares of the company’s stock valued at $119,000 after purchasing an additional 3,900 shares during the period. SOL Capital Management CO acquired a new stake in IMPINJ during the 3rd quarter valued at approximately $202,000. Finally, Bank of America Corp DE increased its position in IMPINJ by 5.3% during the 4th quarter. Bank of America Corp DE now owns 14,086 shares of the company’s stock valued at $205,000 after purchasing an additional 711 shares during the period. 67.29% of the stock is owned by institutional investors and hedge funds.

About IMPINJ

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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