For Impinj Inc. [PI], Analyst sees a rise to $46. What next?

Impinj Inc. [NASDAQ: PI] loss -19.43% or -11.29 points to close at $46.81 with a heavy trading volume of 1332820 shares. The company report on April 29, 2021 that Impinj Expands Executive Leadership Team with Hire of Brian Wong as Chief Product Officer.

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Impinj, Inc. (NASDAQ: PI), a leading RAIN RFID provider and Internet of Things pioneer, announced that Brian Wong will join its executive leadership team as chief product officer, effective May 10, 2021. With over 35 years’ experience in the technology sector, Wong brings extensive strategic, operational, and financial expertise to lead Impinj’s product organization.

This press release features multimedia. View the full release here:

It opened the trading session at $53.05, the shares rose to $55.25 and dropped to $45.25, the range by which the price of stock traded the whole day. The daily chart for PI points out that the company has recorded 59.49% gains over the past six months. However, it is still -123.86% lower than its most recent low trading price.

If we look at the average trading volume of 293.99K shares, PI reached to a volume of 1332820 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Impinj Inc. [PI]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PI shares is $75.29 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PI stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Goldman have made an estimate for Impinj Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on November 30, 2020. While these analysts kept the previous recommendation, Needham raised their target price from $25 to $34. The new note on the price target was released on July 10, 2020, representing the official price target for Impinj Inc. stock. Previously, the target price had yet another drop from $33 to $19, while Needham kept a Buy rating on PI stock.

The Average True Range (ATR) for Impinj Inc. is set at 3.63, with the Price to Sales ratio for PI stock in the period of the last 12 months amounting to 7.63. The Price to Book ratio for the last quarter was 9.96, with the Price to Cash per share for the same quarter was set at 4.69.

Trading performance analysis for PI stock

Impinj Inc. [PI] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -12.57. With this latest performance, PI shares dropped by -13.98% in over the last four-week period, additionally plugging by 59.49% over the last 6 months – not to mention a rise of 92.24% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PI stock in for the last two-week period is set at 34.33, with the RSI for the last a single of trading hit 29.34, and the three-weeks RSI is set at 38.11 for Impinj Inc. [PI]. The present Moving Average for the last 50 days of trading for this stock 58.15, while it was recorded at 54.82 for the last single week of trading, and 41.81 for the last 200 days.

Impinj Inc. [PI]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Impinj Inc. [PI] shares currently have an operating margin of -30.03 and a Gross Margin at +46.89. Impinj Inc.’s Net Margin is presently recorded at -37.38.

Return on Total Capital for PI is now -21.88, given the latest momentum, and Return on Invested Capital for the company is -27.77. Return on Equity for this stock declined to -44.31, with Return on Assets sitting at -24.57. When it comes to the capital structure of this company, Impinj Inc. [PI] has a Total Debt to Total Equity ratio set at 67.32. Additionally, PI Total Debt to Total Capital is recorded at 40.24, with Total Debt to Total Assets ending up at 35.38. Long-Term Debt to Equity for the company is recorded at 63.99, with the Long-Term Debt to Total Capital now at 38.24.

Reflecting on the efficiency of the workforce at the company, Impinj Inc. [PI] managed to generate an average of -$167,494 per employee. Receivables Turnover for the company is 5.70 with a Total Asset Turnover recorded at a value of 0.66.Impinj Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.90 and a Current Ratio set at 6.20.

Impinj Inc. [PI]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Impinj Inc. posted -0.25/share EPS, while the average EPS was predicted by analysts to be reported at -0.26/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 3.80%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PI. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Impinj Inc. go to 10.00%.

An analysis of insider ownership at Impinj Inc. [PI]

There are presently around $952 million, or 90.00% of PI stock, in the hands of institutional investors. The top three institutional holders of PI stocks are: SYLEBRA CAPITAL LTD with ownership of 4,397,337, which is approximately 0% of the company’s market cap and around 2.20% of the total institutional ownership; CHEVY CHASE TRUST HOLDINGS, INC., holding 1,706,753 shares of the stock with an approximate value of $79.89 million in PI stocks shares; and BLACKROCK INC., currently with $59.54 million in PI stock with ownership of nearly 3.409% of the company’s market capitalization.

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Positions in Impinj Inc. stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 70 institutional holders increased their position in Impinj Inc. [NASDAQ:PI] by around 2,849,251 shares. Additionally, 68 investors decreased positions by around 2,391,525 shares, while 30 investors held positions by with 15,107,207 shares. The mentioned changes placed institutional holdings at 20,347,983 shares, according to the latest SEC report filing. PI stock had 35 new institutional investments in for a total of 1,638,826 shares, while 15 institutional investors sold positions of 339,266 shares during the same period.

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