Impinj (NASDAQ:PI) Sets New 52-Week Low – What’s Next?

Shares of Impinj, Inc. (NASDAQ:PI) hit a new 52-week low during trading on Friday . The company traded as low as $97.94 and last traded at $97.83, with a volume of 189436 shares changing hands. The stock had previously closed at $100.81.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PI. Piper Sandler reduced their target price on shares of Impinj from $235.00 to $140.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Lake Street Capital upped their target price on shares of Impinj from $190.00 to $251.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Cantor Fitzgerald reduced their price objective on shares of Impinj from $260.00 to $133.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. The Goldman Sachs Group reduced their price objective on shares of Impinj from $200.00 to $132.00 and set a “neutral” rating for the company in a research note on Thursday, February 6th. Finally, Needham & Company LLC reduced their price objective on shares of Impinj from $182.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $180.10.

Impinj Stock Down 3.9 %

The company has a market capitalization of $2.77 billion, a PE ratio of 71.24 and a beta of 1.88. The company’s 50 day moving average is $133.21 and its two-hundred day moving average is $168.90.

Impinj (NASDAQ:PI) last posted its earnings results on Wednesday, February 5th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.49). Impinj had a net margin of 11.15% and a return on equity of 7.11%. Analysts forecast that Impinj, Inc. will post -0.47 EPS for the current year.

Insider Activity at Impinj

In other Impinj news, CEO Chris Ph.D. Diorio sold 1,504 shares of the stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $146.22, for a total transaction of $219,914.88. Following the completion of the transaction, the chief executive officer now owns 331,572 shares in the company, valued at $48,482,457.84. This trade represents a 0.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Cary Baker sold 499 shares of the stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $146.06, for a total transaction of $72,883.94. Following the transaction, the chief financial officer now owns 71,107 shares of the company’s stock, valued at $10,385,888.42. This trade represents a 0.70 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,466 shares of company stock valued at $789,298. Corporate insiders own 51.00% of the company’s stock.

Institutional Investors Weigh In On Impinj

Institutional investors have recently made changes to their positions in the company. Los Angeles Capital Management LLC lifted its holdings in shares of Impinj by 210.2% in the 3rd quarter. Los Angeles Capital Management LLC now owns 8,569 shares of the company’s stock worth $1,855,000 after acquiring an additional 5,807 shares during the last quarter. Nordea Investment Management AB bought a new stake in shares of Impinj in the 4th quarter worth about $3,341,000. Thrivent Financial for Lutherans bought a new stake in shares of Impinj in the 3rd quarter worth about $3,872,000. Teachers Retirement System of The State of Kentucky bought a new stake in shares of Impinj in the 3rd quarter worth about $846,000. Finally, Intech Investment Management LLC purchased a new position in Impinj in the 3rd quarter worth about $1,437,000.

Impinj Company Profile

Impinj, Inc operates a cloud connectivity platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. Its platform wirelessly connects items and delivers data about the connected items to business and consumer applications. The company’s platform comprises endpoint ICs, a miniature radios-on-a-chip that attaches to a host item and includes a number to identify the item.