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Impinj Inc (PI) Has A Gold Mine On Its Hands

Impinj Inc (NASDAQ:PI) concluded the trading at $110.04 Friday, February 09 with a rise of 3.51% from its closing price on previous day.

Taking a look at stock we notice that its last check on previous day was $106.31 and 5Y monthly beta was reading 2.04 . Considering stock’s 52-week price range provides that PI hit a high price of $144.90 and saw its price falling to a low level of $48.39 during that period. Over a period of past 1-month, stock came adding 31.64% in its value.

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With its current market valuation of $2.98 billion, Impinj Inc is set to declare its quarterly results on Apr 24, 2024 – Apr 29, 2024. Analysts are in estimates of $0.02 per share for company’s earnings in the current quarter and are expecting its annual EPS growth moving up to $1 for 2024 with estimates of that growing to $1.95 in next year. These estimates are suggesting current year growth of 42.90% for EPS and 95.00% growth next year.

Analysts watching the company’s growth closely have provided estimates for its revenue growth with an average revenue estimate of $71.04 million. They suggested that in the process company could generate revenue of as low as $68.72 million which could climb up to $73.6 million to hit a high. The average estimate is representing a decrease of -17.30% in sales growth from that of posted by the company in the same quarter of last year. In keeping analyst consensus estimate with, company is forecasted to be making an annual revenue of $333.12 million in 2024, which will be 8.30% more from revenue generated by the company last year.

In last 7 days, analysts came adjusting their opinions about stock’s EPS with no upward and no downward revisions, an indication which could give clearer idea about the company’s short term price movement. In contrast, when we review PI stock’s current outlook then short term indicators are assigning it an average of 100% Buy, while medium term indicators are categorizing the stock at an average of 100% Buy. Long term indicators are suggesting an average of 50% Buy for it.

Digging deeper we become aware of the PEG ratio of the PI stock which is currently positioned at 0. It further provides that stock’s current price level is 12.44% away from its 20-day simple moving average and is 21.70% off its SMA50. Its relative strength index (RSI) for 14-periods is oscillating at 71.00 while volatility remained at 5.18% over the past week which changes to 4.87% when measuring it over the past month. Beta is valued at 2.04, while measure of average true range or ATR is currently at 4.95.

In comparing Impinj Inc (PI)’s stock with other industry players reveals that stock’s current price change of 3.51% and that of -12.02% over the past 12 months is in competing position with that of Qualcomm Inc. (QCOM) which saw its stock price raised by 1.90%% in the last trading and went through an increase of 17.06% in past 12-month trading. Industry’s another major player Socket Mobile Inc. (SCKT) has fall -3.05%% down in previous session, but over the past year has faced a fall of -48.08%. Impinj Inc has a P/E ratio of 0 against that of Qualcomm Inc.’s 21.88.

Having a second look at Impinj Inc (NASDAQ:PI) provides that stock’s average daily trading volume for 3 months was 394.26K, while it jumped to 0.4 million when we calculate an average volume for past 10 days. Number of outstanding shares of the stock stood at 26.10 million.

The percentage of outstanding shares held by the insiders is 4.04% while it is 117.60% for the institutional holders. The figures also indicate that as of Jan 12, 2024, number of stock’s short shares was 3.81 million which implies a short ratio of 10.94. This shows down a 14.08% of Short Interest in company’s outstanding shares on the day. In January the standing of shares short improved as it was 4.05 million in the previous month. Addition of 22.23% by stock’s current price to its year-to-date value in last trading session is likely to be increasing investors’ interest in the stock as it is hinting an extended uptrend.