Impinj, Inc. (NASDAQ:PI) Short Interest Update

Impinj, Inc. (NASDAQ:PI) saw a significant drop in short interest in February. As of February 15th, there was short interest totalling 3,580,000 shares, a drop of 20.3% from the January 31st total of 4,490,000 shares. Based on an average daily trading volume, of 654,800 shares, the short-interest ratio is presently 5.5 days.

Impinj Trading Down 3.5 %

NASDAQ PI traded down $3.37 during midday trading on Thursday, hitting $91.46. The company had a trading volume of 123,641 shares, compared to its average volume of 519,225. The firm has a 50-day moving average price of $123.50 and a 200-day moving average price of $165.47. The company has a market capitalization of $2.61 billion, a PE ratio of 67.20 and a beta of 1.88. Impinj has a twelve month low of $84.17 and a twelve month high of $239.88.

Impinj (NASDAQ:PI) last posted its quarterly earnings results on Wednesday, February 5th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.49). Impinj had a net margin of 11.15% and a return on equity of 7.11%. On average, equities analysts anticipate that Impinj will post -0.47 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Susquehanna dropped their price objective on shares of Impinj from $260.00 to $220.00 and set a “positive” rating on the stock in a report on Wednesday, January 22nd. Piper Sandler lowered their price objective on shares of Impinj from $235.00 to $140.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Needham & Company LLC reduced their target price on shares of Impinj from $182.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, February 6th. StockNews.com cut shares of Impinj from a “hold” rating to a “sell” rating in a research note on Friday, January 24th. Finally, Cantor Fitzgerald raised shares of Impinj to a “strong-buy” rating in a research report on Thursday, February 27th. One analyst has rated the stock with a sell rating, one has given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $180.10.

Insider Buying and Selling 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 stock was 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 directly owns 331,572 shares in the company, valued at $48,482,457.84. This represents a 0.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Cary Baker sold 499 shares of Impinj stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $146.06, for a total value of $72,883.94. Following the completion of the transaction, the chief financial officer now directly owns 71,107 shares of the company’s stock, valued at $10,385,888.42. This represents a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,323 shares of company stock worth $2,454,588 over the last three months. Corporate insiders own 51.00% of the company’s stock.

Hedge Funds Weigh In On Impinj

Hedge funds and other institutional investors have recently modified their holdings of the business. Canada Pension Plan Investment Board bought a new position in Impinj in the 4th quarter valued at approximately $29,000. National Bank of Canada FI bought a new position in Impinj in the third quarter valued at about $30,000. Farther Finance Advisors LLC grew its holdings in shares of Impinj by 1,084.6% during the third quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock worth $33,000 after purchasing an additional 141 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in Impinj in the 4th quarter valued at approximately $33,000. Finally, Jones Financial Companies Lllp grew its holdings in Impinj by 205.9% during the 4th quarter. Jones Financial Companies Lllp now owns 260 shares of the company’s stock worth $38,000 after acquiring an additional 175 shares during the last quarter.

About Impinj

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.