What’s Propelling Impinj, Inc. (PI) to Decline So Much?

February 18, 2018 - By Henry Gaston

The stock of Impinj, Inc. (NASDAQ:PI) is a huge mover today! The stock decreased 17.57% or $2.36 during the last trading session, reaching $11.07. About 5.97 million shares traded or 530.28% up from the average. Impinj, Inc. (NASDAQ:PI) has 0.00% since February 18, 2017 and is . It has underperformed by 16.70% the S&P500.
The move comes after 5 months negative chart setup for the $232.01 million company. It was reported on Feb, 18 by Barchart.com. We have $10.07 PT which if reached, will make NASDAQ:PI worth $20.88M less.

Impinj, Inc. (NASDAQ:PI) Ratings Coverage

Among 9 analysts covering Impinj (NASDAQ:PI), 5 have Buy rating, 0 Sell and 4 Hold. Therefore 56% are positive. Impinj had 28 analyst reports since August 15, 2016 according to SRatingsIntel. Piper Jaffray maintained it with “Buy” rating and $4100 target in Thursday, August 3 report. The firm has “Equal-Weight” rating by Morgan Stanley given on Monday, June 19. Canaccord Genuity maintained Impinj, Inc. (NASDAQ:PI) rating on Wednesday, June 7. Canaccord Genuity has “Buy” rating and $5700 target. The rating was maintained by RBC Capital Markets on Thursday, May 25 with “Buy”. The company was maintained on Thursday, September 1 by Piper Jaffray. The firm has “Buy” rating by RBC Capital Markets given on Monday, July 17. Piperjaffray initiated Impinj, Inc. (NASDAQ:PI) rating on Monday, August 15. Piperjaffray has “Overweight” rating and $24 target. The stock of Impinj, Inc. (NASDAQ:PI) earned “Neutral” rating by PiperJaffray on Thursday, November 2. Morgan Stanley maintained Impinj, Inc. (NASDAQ:PI) on Thursday, November 2 with “Equal-Weight” rating. Pacific Crest initiated the shares of PI in report on Monday, August 15 with “Overweight” rating.

More notable recent Impinj, Inc. (NASDAQ:PI) news were published by: Streetinsider.com which released: “Canaccord Genuity Downgrades Impinj Inc (PI) to Hold” on February 02, 2018, also Seekingalpha.com with their article: “Impinj plunges 32% after cutting outlook; CFO out” published on February 02, 2018, Globenewswire.com published: “Impinj Announces Fourth Quarter and Full Year 2017 Financial Results” on February 15, 2018. More interesting news about Impinj, Inc. (NASDAQ:PI) were released by: Globenewswire.com and their article: “Impinj Announces Preliminary Fourth Quarter 2017 Revenue, Reduced Outlook for …” published on February 01, 2018 as well as Streetinsider.com‘s news article titled: “Piper Jaffray Upgrades Impinj Inc (PI) to Overweight, Potential Acquisition Target” with publication date: February 06, 2018.

Impinj, Inc. operates a platform that enables wireless connectivity to everyday items by delivering each itemsÂ’ unique identity, location, and authenticity to business and consumer applications. The company has market cap of $232.01 million. The Company’s platform delivers Item Intelligence, which include real-time information about an itemÂ’s unique identity, location, and authenticity through RAIN radio-frequency identification technology. It currently has negative earnings. The companyÂ’s platform includes endpoint integrated circuits product, a miniature radios-on-a-chip that 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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