K.J. Harrison & Partners Inc Raises Position in Impinj, Inc. (NASDAQ:PI)

K.J. Harrison & Partners Inc lifted its holdings in Impinj, Inc. (NASDAQ:PI) by 337.8% in the first quarter, Holdings Channel reports. The firm owned 16,200 shares of the company’s stock after buying an additional 12,500 shares during the period. K.J. Harrison & Partners Inc’s holdings in Impinj were worth $1,469,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board acquired a new stake in Impinj in the 4th quarter worth approximately $29,000. SBI Securities Co. Ltd. purchased a new position in shares of Impinj in the fourth quarter worth $33,000. Jones Financial Companies Lllp raised its holdings in shares of Impinj by 205.9% in the fourth quarter. Jones Financial Companies Lllp now owns 260 shares of the company’s stock worth $38,000 after buying an additional 175 shares during the last quarter. IFP Advisors Inc lifted its stake in shares of Impinj by 116.5% during the fourth quarter. IFP Advisors Inc now owns 368 shares of the company’s stock worth $53,000 after buying an additional 198 shares during the period. Finally, GAMMA Investing LLC grew its holdings in shares of Impinj by 68.7% during the first quarter. GAMMA Investing LLC now owns 722 shares of the company’s stock valued at $65,000 after buying an additional 294 shares during the last quarter.

Analysts Set New Price Targets

Several research firms recently issued reports on PI. Needham & Company LLC cut their target price on Impinj from $130.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Cantor Fitzgerald reiterated an “overweight” rating and set a $133.00 price target on shares of Impinj in a research note on Thursday, April 24th. Evercore ISI increased their price objective on Impinj from $99.00 to $117.00 and gave the company an “outperform” rating in a report on Thursday, April 24th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $100.00 target price on shares of Impinj in a report on Thursday, June 12th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Impinj currently has an average rating of “Moderate Buy” and an average price target of $155.38.

Impinj Trading Up 3.1%

NASDAQ PI opened at $111.83 on Friday. Impinj, Inc. has a 1 year low of $60.85 and a 1 year high of $239.88. The company has a debt-to-equity ratio of 1.77, a current ratio of 10.96 and a quick ratio of 7.46. The company has a market capitalization of $3.24 billion, a PE ratio of -2,795.05 and a beta of 1.67. The company has a fifty day moving average of $106.61 and a 200 day moving average of $109.75.

Impinj (NASDAQ:PI) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.12. The business had revenue of $74.28 million during the quarter, compared to analyst estimates of $71.73 million. Impinj had a positive return on equity of 6.45% and a negative net margin of 0.26%. The company’s revenue was down 3.3% on a year-over-year basis. During the same quarter last year, the business posted $0.21 EPS. Research analysts forecast that Impinj, Inc. will post -0.47 earnings per share for the current year.

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.