BidaskClub upgraded shares of IMPINJ (NASDAQ:PI) from a hold rating to a buy rating in a research report sent to investors on Thursday.

A number of other equities analysts have also weighed in on PI. Zacks Investment Research lowered shares of IMPINJ from a buy rating to a hold rating in a research report on Thursday, January 10th. Dougherty & Co reaffirmed a neutral rating on shares of IMPINJ in a research report on Thursday, February 21st. Finally, ValuEngine lowered shares of IMPINJ from a buy rating to a hold rating in a research report on Wednesday, January 2nd. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $23.33.

PI traded up $0.37 during midday trading on Thursday, reaching $18.65. 740 shares of the company’s stock were exchanged, compared to its average volume of 240,892. The company has a current ratio of 5.26, a quick ratio of 3.32 and a debt-to-equity ratio of 0.19. The stock has a market cap of $392.84 million, a P/E ratio of -27.35 and a beta of 2.26. IMPINJ has a 1-year low of $11.57 and a 1-year high of $28.48.

IMPINJ (NASDAQ:PI) last announced its earnings results on Wednesday, February 20th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.05. The company 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 17.42%. The firm’s quarterly revenue was up 28.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.28) earnings per share. As a group, analysts forecast that IMPINJ will post -0.66 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of PI. Toronado Partners LLC acquired a new stake in IMPINJ in the fourth quarter valued at $8,987,000. 361 Capital LLC acquired a new stake in shares of IMPINJ during the fourth quarter worth $1,885,000. D. E. Shaw & Co. Inc. raised its holdings in shares of IMPINJ by 33.1% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 355,425 shares of the company’s stock worth $5,171,000 after purchasing an additional 88,314 shares during the period. Symmetry Peak Management LLC acquired a new stake in shares of IMPINJ during the third quarter worth $819,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of IMPINJ during the third quarter worth $433,000. 65.92% of the stock is currently owned by hedge funds and other institutional investors.

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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