IMPINJ Inc (NASDAQ:PI) Short Interest Update

IMPINJ Inc (NASDAQ:PI) was the target of a large increase in short interest in January. As of January 31st, there was short interest totalling 4,250,000 shares, an increase of 15.8% from the January 15th total of 3,670,000 shares. Based on an average daily trading volume, of 380,900 shares, the short-interest ratio is presently 11.2 days. Approximately 21.0% of the shares of the stock are short sold.

Shares of PI traded down $0.19 during mid-day trading on Friday, reaching $31.51. The company’s stock had a trading volume of 205,401 shares, compared to its average volume of 449,577. The stock has a market cap of $697.25 million, a PE ratio of -31.83, a P/E/G ratio of 30.74 and a beta of 2.41. The company has a current ratio of 5.90, a quick ratio of 4.21 and a debt-to-equity ratio of 0.39. IMPINJ has a 52 week low of $16.07 and a 52 week high of $40.24. The company’s fifty day moving average price is $30.59 and its two-hundred day moving average price is $32.39.

In other IMPINJ news, COO Eric Brodersen sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $30.64, for a total value of $91,920.00. Following the completion of the transaction, the chief operating officer now owns 2,600 shares of the company’s stock, valued at approximately $79,664. The transaction was disclosed in a filing with the SEC, which is available through this link. 28.00% of the stock is owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Parametric Portfolio Associates LLC bought a new stake in shares of IMPINJ in the second quarter valued at approximately $414,000. Vanguard Group Inc. boosted its stake in shares of IMPINJ by 28.2% in the second quarter. Vanguard Group Inc. now owns 604,615 shares of the company’s stock valued at $17,304,000 after buying an additional 132,865 shares during the period. Invesco Ltd. boosted its stake in shares of IMPINJ by 238.4% in the second quarter. Invesco Ltd. now owns 45,633 shares of the company’s stock valued at $1,306,000 after buying an additional 32,147 shares during the period. Morgan Stanley boosted its stake in shares of IMPINJ by 198.0% in the second quarter. Morgan Stanley now owns 196,734 shares of the company’s stock valued at $5,630,000 after buying an additional 130,719 shares during the period. Finally, Nuveen Asset Management LLC bought a new stake in shares of IMPINJ in the second quarter valued at approximately $2,857,000. Hedge funds and other institutional investors own 77.26% of the company’s stock.

A number of equities analysts have commented on the stock. Needham & Company LLC boosted their price target on shares of IMPINJ from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Zacks Investment Research cut shares of IMPINJ from a “buy” rating to a “hold” rating in a research note on Tuesday, November 19th. TheStreet cut shares of IMPINJ from a “c-” rating to a “d+” rating in a research note on Tuesday, December 31st. ValuEngine cut shares of IMPINJ from a “sell” rating to a “strong sell” rating in a research note on Wednesday, December 11th. Finally, BidaskClub cut shares of IMPINJ from a “buy” rating to a “hold” rating in a research note on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. IMPINJ has a consensus rating of “Buy” and a consensus price target of $37.80.

IMPINJ Company Profile

Impinj, Inc operates a platform that enables wireless connectivity for everyday items by delivering each item's unique identity, location, and authenticity to business and consumer applications. Its integrated platform connects everyday items to applications, delivering real-time information to businesses about items they create, manage, transport, and sell.

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