IMPINJ (PI) Receiving Somewhat Positive Press Coverage, Study Shows
Media coverage about IMPINJ (NYSE:PI) has been trending somewhat positive recently, Accern Sentiment reports. The research firm rates the sentiment of media coverage by reviewing more than 20 million blog and news sources. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. IMPINJ earned a media sentiment score of 0.08 on Accern’s scale. Accern also gave news coverage about the company an impact score of 44.1873205778342 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the near future.
Here are some of the media stories that may have impacted Accern’s rankings:
- Real Time Location System Market share will Increase more than US$ 8 Billion by 2022 (medgadget.com)
- On-Shelf Availability Solution Market Global Industry Analysis (2012-2016) and Opportunity Assessment (2017 – 2027)-MRRSE (mynewsdesk.com)
- Impinj, Inc. (PI)- Stocks Raising Investors Eye Brows – NASDAQ Times (nasdaqtimes.com)
- IMPINJ Inc (PI) Stock Rating Reaffirmed by Royal Bank Of Canada (americanbankingnews.com)
IMPINJ (PI) opened at 38.99 on Friday. The firm’s 50-day moving average is $39.58 and its 200 day moving average is $39.58. IMPINJ has a 12 month low of $23.55 and a 12 month high of $41.97. The firm’s market capitalization is $813.33 million.
IMPINJ (NYSE:PI) last released its earnings results on Thursday, August 3rd. The company reported $0.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.04. The firm had revenue of $34.10 million for the quarter, compared to analysts’ expectations of $33.41 million. IMPINJ had a negative net margin of 2.86% and a negative return on equity of 3.11%. IMPINJ’s quarterly revenue was up 31.2% on a year-over-year basis. During the same quarter last year, the company earned $0.06 EPS. Equities analysts predict that IMPINJ will post $0.05 earnings per share for the current year.
Several brokerages have weighed in on PI. KeyCorp lowered shares of IMPINJ to a “hold” rating in a research report on Tuesday, June 27th. Royal Bank Of Canada upped their target price on shares of IMPINJ from $50.00 to $59.00 and gave the stock an “outperform” rating in a research report on Monday, June 19th. Morgan Stanley lowered shares of IMPINJ from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $40.00 to $51.00 in a research report on Monday, June 19th. Zacks Investment Research lowered shares of IMPINJ from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Finally, Needham & Company LLC upped their target price on shares of IMPINJ from $40.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. IMPINJ presently has a consensus rating of “Buy” and a consensus target price of $50.67.
In other news, COO Eric Brodersen sold 3,500 shares of IMPINJ stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $53.21, for a total value of $186,235.00. Following the transaction, the chief operating officer now owns 106,743 shares of the company’s stock, valued at approximately $5,679,795.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Evan Fein sold 9,000 shares of IMPINJ stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $38.00, for a total transaction of $342,000.00. Following the completion of 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. Insiders sold a total of 40,500 shares of company stock worth $1,693,315 in the last ninety days.
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.
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