IMPINJ Inc (PI) Trading 2.6% Higher
IMPINJ Inc (NYSE:PI) shares traded up 2.6% during mid-day trading on Wednesday . The company traded as high as $24.48 and last traded at $23.34, with a volume of 466,788 shares traded. The stock had previously closed at $22.75.
A number of research analysts have weighed in on PI shares. Piper Jaffray Cos. started coverage on IMPINJ in a research note on Monday, August 15th. They issued an “overweight” rating and a $24.00 price target for the company. Canaccord Genuity started coverage on IMPINJ in a research note on Monday, August 15th. They issued a “buy” rating and a $25.00 price target for the company. Pacific Crest started coverage on IMPINJ in a research note on Monday, August 15th. They issued an “overweight” rating and a $24.00 price target for the company. Royal Bank Of Canada raised their price target on IMPINJ from $25.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, RBC Capital Markets started coverage on IMPINJ in a research note on Monday, August 15th. They issued an “outperform” rating and a $25.00 price target for the company. Six research analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and a consensus price target of $27.17.
The company has a 50-day moving average of $20.60 and a 200 day moving average of $20.60.
IMPINJ (NYSE:PI) last announced its quarterly earnings data on Thursday, September 1st. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.04. The business earned $47.60 million during the quarter, compared to analyst estimates of $25.31 million. IMPINJ’s revenue for the quarter was up 35.2% on a year-over-year basis. On average, equities research analysts forecast that IMPINJ Inc will post ($0.01) EPS for the current year.
In other news, Director Tom A. Alberg purchased 35,714 shares of the company’s stock in a transaction that occurred on Tuesday, July 26th. The shares were acquired at an average cost of $14.00 per share, with a total value of $499,996.00. Following the purchase, the director now owns 35,714 shares in the company, valued at $499,996. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Impinj, Inc is a provider of referral and information network (RAIN) radio frequency identification (RFID) solutions that provide item intelligence in the retail, pharmaceutical, healthcare, food and beverage, and other industries. The Company’s products include reader chips, tag chips, readers, gateways and software.
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