Impinj, Inc. (NASDAQ:PI) is an American manufacturer of radio-frequency identification devices and software. The technology company helps businesses and people analyze, optimize, and innovate by wirelessly connecting billions of everyday things such as apparel, automobile parts, luggage, and shipments to the Internet. PI currently produces EPC Class 1, Gen 2 passive UHF RFID chips, RFID readers, RFID reader chips, and RFID antennas, and software applications for encoding chips, and gathering business intelligence on RFID systems.
Impinj stock has dropped just about 6% in price year-over-year and PI is currently trading down 48% since peaking at a an all-time high of $94.39 in late December. Additionally, shares of PI have dropped in price 44% year-to-date. However, Impinj stock is up 6% over the past month and has recovered 24% since bottoming at a 52-week low of $39.69 last July.
The RFID company has managed to grow their annual revenues 61.6% since fiscal 2018, despite reporting a 9.1% decrease in revenues for fiscal 2020. Impinj is also expected to end fiscal 2022 with 15.4% revenue growth and is estimated to increase their revenues by 23.7% for fiscal 2023, which is decent for a stock trading at a price-sales ratio of 6.22.
Nonetheless, estimates have PI ending fiscal 2022 with a 40% decrease in earnings, placing their forward price-earnings ratio at an extremely high figure of 833.33. Impinj also has $165.27 million in cash and $303.77 million in total debt on their balance sheet, which is not ideal for their long-term growth. Still, Impinj stock remains an intriguing speculative small-cap stock with 286.7% in expected earnings growth by fiscal 2023. This makes at PI a high-risk, high-reward play for growth investors at this time.7 Retail Stocks That May Still Ring the Register
Despite record-high inflation, supply chain disruption, and increased cost pressures due to rising wages, the retail sector has been one of the better performers in 2022. At this time, many retailers have been easy to pass along their costs to consumers.
The question is how long can that last? Investors will get their first clue when the March 2022 Advance Monthly Retail Report is released on April 14, 2022. However, if you're looking to invest in the sector, it's important to widen your lens. Retail sales slowed sharply in February as opposed to January. However, this is a time when investors have to dive into the report. While some categories are struggling, other categories are outperforming the sector and may continue to do so.
That's the focus of this special presentation. We're taking a look at seven retail stocks that have been solid performers thus far in 2022 and have a solid outlook for the remainder of the year.View the "7 Retail Stocks That May Still Ring the Register"