Impinj (NASDAQ:PI) Reaches New 12-Month Low – Should You Sell?

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

Analyst Upgrades and Downgrades

PI has been the subject of a number of recent analyst reports. The Goldman Sachs Group cut their price target on shares of Impinj from $200.00 to $132.00 and set a “neutral” rating for the company in a report on Thursday, February 6th. Piper Sandler cut their price target 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. Susquehanna cut their price target on shares of Impinj from $260.00 to $220.00 and set a “positive” rating for the company in a report on Wednesday, January 22nd. StockNews.com downgraded shares of Impinj from a “hold” rating to a “sell” rating in a report on Friday, January 24th. Finally, Cantor Fitzgerald cut their price target on shares of Impinj from $260.00 to $133.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Impinj currently has a consensus rating of “Moderate Buy” and an average target price of $180.10.

Impinj Trading Down 4.0 %

The company’s 50-day simple moving average is $132.13 and its 200-day simple moving average is $168.81. The stock has a market capitalization of $2.76 billion, a price-to-earnings ratio of 71.14 and a beta of 1.88.

Impinj (NASDAQ:PI) last announced its quarterly earnings results on Wednesday, February 5th. The company reported ($0.01) earnings per share (EPS) 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%. On average, equities research analysts expect that Impinj, Inc. will post -0.47 earnings per share for the current fiscal year.

Insider Buying and Selling at Impinj

In other Impinj news, COO Hussein Mecklai sold 826 shares of the firm’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $146.07, for a total value of $120,653.82. Following the completion of the sale, the chief operating officer now directly owns 60,830 shares in the company, valued at approximately $8,885,438.10. This trade represents a 1.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Cathal G. Phelan sold 210 shares of the firm’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $146.06, for a total transaction of $30,672.60. Following the completion of the sale, the insider now owns 6,979 shares of the company’s stock, valued at $1,019,352.74. The trade was a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,466 shares of company stock worth $789,298. 51.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Impinj

A number of large investors have recently bought and sold shares of the stock. First Bank & Trust grew its holdings in Impinj by 3.2% in the third quarter. First Bank & Trust now owns 1,768 shares of the company’s stock worth $383,000 after purchasing an additional 55 shares during the period. Hillsdale Investment Management Inc. lifted its stake in shares of Impinj by 0.4% in the fourth quarter. Hillsdale Investment Management Inc. now owns 24,685 shares of the company’s stock valued at $3,586,000 after buying an additional 95 shares in the last quarter. Louisiana State Employees Retirement System lifted its stake in shares of Impinj by 0.9% in the fourth quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the company’s stock valued at $1,612,000 after buying an additional 100 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in shares of Impinj by 6.9% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 1,641 shares of the company’s stock valued at $238,000 after buying an additional 106 shares in the last quarter. Finally, National Bank of Canada FI bought a new position in shares of Impinj in the third quarter valued at $30,000.

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.