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.

IMPINJ (NASDAQ:PI) last released its earnings results on Wednesday, September 12th. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.10. The company had revenue of $28.50 million for the quarter, compared to the consensus estimate of $28.50 million. IMPINJ had a negative net margin of 32.16% and a negative return on equity of 16.72%. IMPINJ’s revenue was down 16.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.06 EPS. equities research analysts expect that IMPINJ will post -1.62 earnings per share for the current year.

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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Analyst Recommendations for IMPINJ (NASDAQ:PI)

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