Impinj (NASDAQ:PI) Trading Down 5% - Should You Sell?

Impinj, Inc. (NASDAQ:PI - Get Free Report) shares fell 5% on Tuesday . The stock traded as low as $108.96 and last traded at $110.67. 81,270 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 597,391 shares. The stock had previously closed at $116.51.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PI. Cantor Fitzgerald reiterated an "overweight" rating and issued a $133.00 target price on shares of Impinj in a report on Thursday, April 24th. Piper Sandler boosted their price target on shares of Impinj from $100.00 to $140.00 and gave the company an "overweight" rating in a report on Wednesday. Susquehanna boosted their price target on shares of Impinj from $130.00 to $140.00 and gave the company a "positive" rating in a report on Tuesday. Needham & Company LLC cut their price target on shares of Impinj from $130.00 to $115.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Finally, Evercore ISI boosted their price objective on shares of Impinj from $99.00 to $117.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $150.38.

Impinj Trading Up 2.9%

The business has a fifty day moving average of $113.79 and a 200-day moving average of $105.72. The company has a debt-to-equity ratio of 1.77, a quick ratio of 7.46 and a current ratio of 10.96. The company has a market capitalization of $3.60 billion, a P/E ratio of -3,105.47 and a beta of 1.64.

Impinj (NASDAQ:PI - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.12. Impinj had a positive return on equity of 6.45% and a negative net margin of 0.26%. The firm had revenue of $74.28 million during the quarter, compared to analyst estimates of $71.73 million. During the same period last year, the firm posted $0.21 EPS. The business's revenue was down 3.3% compared to the same quarter last year. Analysts anticipate that Impinj, Inc. will post -0.47 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Impinj

Hedge funds have recently made changes to their positions in the business. Sylebra Capital LLC boosted its holdings in Impinj by 8.6% in the fourth quarter. Sylebra Capital LLC now owns 3,472,116 shares of the company's stock worth $504,360,000 after acquiring an additional 274,764 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Impinj by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 3,442,164 shares of the company's stock worth $500,009,000 after acquiring an additional 104,861 shares in the last quarter. Capital International Investors boosted its holdings in Impinj by 45.0% in the fourth quarter. Capital International Investors now owns 1,527,587 shares of the company's stock worth $221,897,000 after acquiring an additional 473,721 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Impinj by 304.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 972,260 shares of the company's stock worth $88,184,000 after acquiring an additional 731,817 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Impinj by 52.7% during the first quarter. Ameriprise Financial Inc. now owns 622,183 shares of the company's stock valued at $56,431,000 after purchasing an additional 214,792 shares in the last quarter.

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.