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

Several other equities research analysts have also recently weighed in on the company. Zacks Investment Research cut IMPINJ from a hold rating to a sell rating in a research note on Wednesday, July 19th. Royal Bank Of Canada restated an outperform rating on shares of IMPINJ in a research note on Saturday, July 22nd. Needham & Company LLC boosted their price objective on IMPINJ from $40.00 to $55.00 and gave the company a buy rating in a research note on Wednesday, July 26th. Dougherty & Co initiated coverage on IMPINJ in a research note on Wednesday, August 23rd. They issued a buy rating and a $62.00 price objective for the company. Finally, Canaccord Genuity reiterated a buy rating and issued a $50.00 price objective (down previously from $57.00) on shares of IMPINJ in a research note on Friday, August 4th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. IMPINJ has a consensus rating of Hold and an average target price of $36.67.

IMPINJ (PI) opened at $22.23 on Thursday. IMPINJ has a 52-week low of $19.97 and a 52-week high of $60.85.

IMPINJ (NYSE:PI) last announced its quarterly earnings data on Wednesday, November 1st. The company reported ($0.08) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.04). IMPINJ had a negative return on equity of 3.11% and a negative net margin of 2.86%. The company had revenue of $32.60 million for the quarter, compared to analyst estimates of $32.58 million. During the same period in the prior year, the firm posted $0.10 earnings per share. The business’s quarterly revenue was up 5.2% compared to the same quarter last year.

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In related news, insider Eric Brodersen sold 7,000 shares of the company’s stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $39.85, for a total transaction of $278,950.00. Following the transaction, the insider now owns 92,843 shares of the company’s stock, valued at $3,699,793.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Evan Fein sold 9,000 shares of the company’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $38.00, for a total value of $342,000.00. Following the transaction, the chief financial officer now directly owns 15,300 shares in the company, valued at approximately $581,400. The disclosure for this sale can be found here. In the last three months, insiders sold 37,000 shares of company stock worth $1,392,420.

Hedge funds have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA grew its holdings in IMPINJ by 1,261.0% in the second quarter. BNP Paribas Arbitrage SA now owns 2,096 shares of the company’s stock valued at $102,000 after purchasing an additional 1,942 shares during the last quarter. American International Group Inc. acquired a new stake in IMPINJ in the first quarter valued at $112,000. Turner Investments LLC acquired a new stake in IMPINJ in the second quarter valued at $146,000. PNC Financial Services Group Inc. grew its holdings in IMPINJ by 95.1% in the second quarter. PNC Financial Services Group Inc. now owns 3,621 shares of the company’s stock valued at $176,000 after purchasing an additional 1,765 shares during the last quarter. Finally, First Mercantile Trust Co. acquired a new stake in IMPINJ in the second quarter valued at $178,000.

About IMPINJ

Impinj, Inc is a provider of RAIN radio frequency identification (RFID) solutions. The Company sells a platform that includes endpoint integrated circuits (ICs), reader ICs, readers and gateways that enable wireless connectivity to everyday items, and software that delivers Item Intelligence from endpoint reads.

Analyst Recommendations for IMPINJ (NYSE:PI)

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