Impinj Inc. (NASDAQ: PI) stock fell -2.07% on Friday to $63.91 against a previous-day closing price of $65.26. With 1.05 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.69 million shares. During the session, the Communication Equipment company that operates in wider Technology sector, reached to the highest price of $65.29 whereas the lowest price it dropped to was $63.90. The 52-week range on PI shows that it touched its highest point at $144.90 and its lowest point at $55.01 during that stretch. It currently has a 1-year price target of $92.00. Beta for the stock currently stands at 2.09.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of PI was up-trending over the past week, with a rise of 1.33%, but this was up by 6.69% over a month. Three-month performance dropped to -34.08% while six-month performance fell -50.39%. The stock lost -29.61% in the past year, while it has lost -41.46% so far this year. A look at the trailing 12-month EPS for PI yields -0.56 with Next year EPS estimates of 1.29. For the next quarter, that number is -0.10. This implies an EPS growth rate of 55.10% for this year and 162.47% for next year. EPS is expected to grow by 10.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -2.60%.
Float and Shares Shorts:
At present, 26.71 million PI shares are outstanding with a float of 25.73 million shares on hand for trading. On Aug 30, 2023, short shares totaled 2.8 million, which was 10.44% higher than short shares on Jul 30, 2023. In addition to AI as the firm’s C3.ai, Inc., PG serves as its Procter & Gamble Company (The).
Through their ownership of 101.99% of PI’s outstanding shares, institutional investors have majority control over the company.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, PI reported revenue of $59.80M and operating income of -$8.48M. The EBITDA in the recently reported quarter was -$9.22M and diluted EPS was -$0.45.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PI since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With PI analysts setting a high price target of $110.00 and a low target of $45.00, the average target price over the next 12 months is $92.00. Based on these targets, PI could surge 72.12% to reach the target high and fall by -29.59% to reach the target low. Reaching the average price target will result in a growth of 43.95% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded PI stock several times over the past three months with 19 Buys and 20 Sells. In these transactions, 1,012,905 shares were bought while 12,771 shares were sold. The number of buy transactions has increased to 94 while that of sell transactions has risen to 177 over the past year. The total number of shares bought during that period was 1,360,545 while 830,687 shares were sold.