Impinj Inc. [PI] moved up 29.22: Why It’s Important

Impinj Inc. [NASDAQ: PI] surged by $26.07 during the normal trading session on Thursday and reaching a high of $115.82 during the day while it closed the day at $115.30. The company report on October 26, 2022 that Impinj Reports Third Quarter 2022 Financial Results.

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Impinj, Inc. (NASDAQ: PI), a leading RAIN RFID provider and Internet of Things pioneer, today released its financial results for the third quarter ended September 30, 2022.

“Our third-quarter results were strong, with both endpoint IC and reader IC revenue setting new quarterly records,” said Chris Diorio, Impinj co-founder and CEO. “We entered the fourth quarter with record backlog and I expect demand to remain strong well into 2023.”.

Impinj Inc. stock has also gained 39.39% of its value over the past 7 days. However, PI stock has inclined by 35.62% in the 3 months of the year. Over the past six months meanwhile, it has gained 130.05% and gained 29.99% year-on date.

The market cap for PI stock reached $2.81 billion, with 25.43 million shares outstanding and 24.49 million shares in the current float. Compared to the average trading volume of 347.84K shares, PI reached a trading volume of 2548737 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say 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 $94.29 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 1.70. 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.

Jefferies have made an estimate for Impinj Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 15, 2021. While these analysts kept the previous recommendation, Lake Street raised their target price to Buy. The new note on the price target was released on October 26, 2021, representing the official price target for Impinj Inc. stock. Previously, the target price had yet another raise to $46, while Goldman analysts kept a Buy rating on PI stock. On July 10, 2020, analysts increased their price target for PI shares from 25 to 34.

The Average True Range (ATR) for Impinj Inc. is set at 6.58, with the Price to Sales ratio for PI stock in the period of the last 12 months amounting to 13.31.

PI stock trade performance evaluation

Impinj Inc. [PI] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 39.39. With this latest performance, PI shares gained by 36.53% in over the last four-week period, additionally plugging by 130.05% over the last 6 months – not to mention a rise of 106.15% 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 76.31, with the RSI for the last a single of trading hit 83.70, and the three-weeks RSI is set at 71.19 for Impinj Inc. [PI]. The present Moving Average for the last 50 days of trading for this stock 87.49, while it was recorded at 92.86 for the last single week of trading, and 69.77 for the last 200 days.

Impinj Inc. [PI]: An insightful look at the core fundamentals

Impinj Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 8.20 and a Current Ratio set at 9.40.

Earnings per share (EPS) analysis for Impinj Inc. [PI] stock

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%.

Impinj Inc. [PI]: Insider Ownership positions

There are presently around $2,702 million, or 95.50% of PI stock, in the hands of institutional investors. The top three institutional holders of PI stocks are: SYLEBRA CAPITAL LTD with ownership of 3,397,337, which is approximately 0% of the company’s market cap and around 2.00% of the total institutional ownership; BLACKROCK INC., holding 1,535,451 shares of the stock with an approximate value of $177.04 million in PI stocks shares; and GILDER GAGNON HOWE & CO LLC, currently with $174.2 million in PI stock with ownership of nearly 1.768% of the company’s market capitalization.

Positions in Impinj Inc. stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 99 institutional holders increased their position in Impinj Inc. [NASDAQ:PI] by around 2,979,474 shares. Additionally, 84 investors decreased positions by around 1,468,516 shares, while 25 investors held positions by with 18,989,155 shares. The mentioned changes placed institutional holdings at 23,437,145 shares, according to the latest SEC report filing. PI stock had 27 new institutional investments in for a total of 628,083 shares, while 39 institutional investors sold positions of 537,807 shares during the same period.


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