The stock of Impinj Inc (NASDAQ: PI) has increased by 3.87 when compared to last closing price of 193.90.Despite this, the company has seen a gain of 9.38% in its stock price over the last five trading days. zacks.com reported 2024-09-17 that Impinj (PI) is at a 52-week high, but can investors hope for more gains in the future? We take a look at the company’s fundamentals for clues.
Is It Worth Investing in Impinj Inc (NASDAQ: PI) Right Now?
Impinj Inc (NASDAQ: PI) has a higher price-to-earnings ratio of 793.58x compared to its average ratio, The 36-month beta value for PI is at 1.77. Analysts have varying views on the stock, with 2 analysts rating it as a “buy,” 2 rating it as “overweight,” 3 as “hold,” and 0 as “sell.”
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The public float for PI is 26.98M, and currently, shorts hold a 10.17% of that float. The average trading volume for PI on September 20, 2024 was 421.27K shares.
PI’s Market Performance
The stock of Impinj Inc (PI) has seen a 9.38% increase in the past week, with a 27.77% rise in the past month, and a 37.33% gain in the past quarter. The volatility ratio for the week is 3.67%, and the volatility levels for the past 30 days are at 3.93% for PI.. The simple moving average for the past 20 days is 17.39% for PI’s stock, with a 51.09% simple moving average for the past 200 days.
Analysts’ Opinion of PI
Many brokerage firms have already submitted their reports for PI stocks, with Cantor Fitzgerald repeating the rating for PI by listing it as a “Overweight.” The predicted price for PI in the upcoming period, according to Cantor Fitzgerald is $205 based on the research report published on July 18, 2024 of the current year 2024.
Piper Sandler, on the other hand, stated in their research note that they expect to see PI reach a price target of $180, previously predicting the price at $150. The rating they have provided for PI stocks is “Overweight” according to the report published on July 11th, 2024.
Goldman gave a rating of “Neutral” to PI, setting the target price at $156 in the report published on May 20th of the current year.
PI Trading at 22.78% from the 50-Day Moving Average
After a stumble in the market that brought PI to its low price for the period of the last 52 weeks, the company was able to rebound, for now settling with 1.72% of gains for the given period.
Volatility was left at 3.93%, however, over the last 30 days, the volatility rate increased by 3.67%, as shares surge +22.36% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +24.06% upper at present.
During the last 5 trading sessions, PI rose by +9.38%, which changed the moving average for the period of 200-days by +131.13% in comparison to the 20-day moving average, which settled at $173.41. In addition, Impinj Inc saw 123.71% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at PI starting from PADVAL UMESH, who sale 3,529 shares at the price of $188.47 back on Sep 13 ’24. After this action, PADVAL UMESH now owns 1,729 shares of Impinj Inc, valued at $665,126 using the latest closing price.
SYLEBRA CAPITAL LLC, the 10% Owner of Impinj Inc, purchase 4,264,393 shares at $4.69 during a trade that took place back on Sep 13 ’24, which means that SYLEBRA CAPITAL LLC is holding 33,050,456 shares at $20,000,003 based on the most recent closing price.
Stock Fundamentals for PI
Current profitability levels for the company are sitting at:
- -0.11 for the present operating margin
- 0.51 for the gross margin
The net margin for Impinj Inc stands at 0.04. The total capital return value is set at -0.26. Equity return is now at value 16.08, with 2.98 for asset returns.
Based on Impinj Inc (PI), the company’s capital structure generated 0.72 points at debt to capital in total, while cash flow to debt ratio is standing at 0.36. The debt to equity ratio resting at 2.51. The interest coverage ratio of the stock is -9.15.
Currently, EBITDA for the company is -26.83 million with net debt to EBITDA at -4.74. When we switch over and look at the enterprise to sales, we see a ratio of 18.23. The receivables turnover for the company is 5.81for trailing twelve months and the total asset turnover is 0.71. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.12.
Conclusion
In conclusion, Impinj Inc (PI) has had a better performance lately. Opinion on the stock among analysts is mixed, with some giving it a “buy” rating and others a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
