IMPINJ (PI) Downgraded to Hold at BidaskClub
BidaskClub downgraded shares of IMPINJ (NASDAQ:PI) from a buy rating to a hold rating in a research report sent to investors on Tuesday.
Several other analysts also recently commented on the stock. ValuEngine raised shares of IMPINJ from a sell rating to a hold rating in a report on Monday, July 2nd. Piper Jaffray Companies upped their price objective on shares of IMPINJ from $19.00 to $26.00 and gave the company a positive rating in a report on Monday, June 18th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. IMPINJ has an average rating of Hold and a consensus target price of $27.71.
NASDAQ:PI opened at $25.01 on Tuesday. The company has a market cap of $401.63 million, a price-to-earnings ratio of -86.24 and a beta of 1.59. IMPINJ has a twelve month low of $9.95 and a twelve month high of $41.97. The company has a current ratio of 8.00, a quick ratio of 4.67 and a debt-to-equity ratio of 0.20.
Hedge funds have recently added to or reduced their stakes in the company. Millennium Management LLC acquired a new position in shares of IMPINJ in the 1st quarter valued at $2,440,000. Trellus Management Company LLC lifted its stake in shares of IMPINJ by 60.9% in the 2nd quarter. Trellus Management Company LLC now owns 48,100 shares of the company’s stock valued at $1,063,000 after purchasing an additional 18,200 shares during the period. LPL Financial LLC lifted its stake in shares of IMPINJ by 72.6% in the 1st quarter. LPL Financial LLC now owns 21,914 shares of the company’s stock valued at $285,000 after purchasing an additional 9,214 shares during the period. Sigma Planning Corp acquired a new position in shares of IMPINJ in the 2nd quarter valued at $426,000. Finally, Engineers Gate Manager LP acquired a new position in shares of IMPINJ in the 1st quarter valued at $467,000. 70.34% of the stock is currently owned by institutional investors and hedge funds.
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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