IMPINJ Inc (NASDAQ:PI) was the target of some unusual options trading on Thursday. Investors bought 1,001 put options on the stock. This is an increase of approximately 1,200% compared to the average volume of 77 put options.

Several brokerages have recently commented on PI. Piper Jaffray Companies upped their price target on IMPINJ from $26.00 to $31.00 and gave the company an “overweight” rating in a research note on Thursday. BidaskClub raised IMPINJ from a “hold” rating to a “buy” rating in a research note on Wednesday, August 15th. Finally, ValuEngine raised IMPINJ from a “sell” rating to a “hold” rating in a research note on Monday, July 2nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $27.71.

PI opened at $25.01 on Friday. IMPINJ has a 12-month low of $9.95 and a 12-month high of $41.97. The company has a current ratio of 8.00, a quick ratio of 4.67 and a debt-to-equity ratio of 0.20. The stock has a market cap of $401.63 million, a P/E ratio of -86.24 and a beta of 1.59.

IMPINJ (NASDAQ:PI) last posted its earnings results on Wednesday, September 12th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.29) by $0.10. IMPINJ had a negative return on equity of 16.72% and a negative net margin of 32.16%. The firm had revenue of $28.50 million for the quarter, compared to analyst estimates of $28.50 million. During the same quarter in the prior year, the company earned $0.06 EPS. IMPINJ’s revenue was down 16.4% on a year-over-year basis. equities analysts forecast that IMPINJ will post -1.62 earnings per share for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. First Trust Advisors LP lifted its stake in IMPINJ by 9.4% during the 2nd quarter. First Trust Advisors LP now owns 36,131 shares of the company’s stock worth $799,000 after acquiring an additional 3,112 shares in the last quarter. Fred Alger Management Inc. lifted its stake in IMPINJ by 1.5% during the 2nd quarter. Fred Alger Management Inc. now owns 233,438 shares of the company’s stock worth $5,161,000 after acquiring an additional 3,555 shares in the last quarter. A.R.T. Advisors LLC lifted its stake in IMPINJ by 27.1% during the 1st quarter. A.R.T. Advisors LLC now owns 35,705 shares of the company’s stock worth $464,000 after acquiring an additional 7,607 shares in the last quarter. Rainier Group Investment Advisory LLC acquired a new position in IMPINJ during the 1st quarter worth about $104,000. Finally, LPL Financial LLC lifted its stake in IMPINJ by 72.6% during the 1st quarter. LPL Financial LLC now owns 21,914 shares of the company’s stock worth $285,000 after acquiring an additional 9,214 shares in the last quarter. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

IMPINJ Company Profile

Impinj, Inc operates a platform that enables wireless connectivity to everyday items by delivering each item's unique identity, location, and authenticity to business and consumer applications. The company's platform includes endpoint integrated circuits (ICs) product, a miniature radios-on-a-chip, which attach-to and identify their host items; and connectivity layer that comprises readers, gateways, and reader ICs to wirelessly identify, locate, authenticate, and engage endpoints via RAIN, as well as provide power to and communicate bidirectionally with endpoint ICs.

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