PI Stock Summary and Trading Ideas (Impinj | NASDAQ:PI)

Impinj Inc operates a platform that enables wireless connectivity to everyday items by delivering each item's identity, location, and authenticity to business and consumer applications. Its platform includes endpoint integrated circuits (ICs) product, a miniature radios-on-a-chip, which 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. Geographically, the company has a business presence in the Americas, Asia Pacific, Europe, Middle East and Africa, of which key revenue is derived from the operations in the Asia Pacific region.

Impinj trades on the NASDAQ stock market under the symbol PI.

As of April 24, 2024, PI stock price declined to $120.91 with 749,810 million shares trading.

PI has a beta of 1.67, meaning it tends to be more sensitive to market movements. PI has a correlation of 0.08 to the broad based SPY ETF.

PI has a market cap of $3.29 billion. This is considered a Mid Cap stock.

Last quarter Impinj reported $71 million in Revenue and $.09 earnings per share. This beat revenue expectation by $2 million and exceeded earnings estimates by $.07.

In the last 3 years, PI stock traded as high as $144.90 and as low as $39.69.

The top ETF exchange traded funds that PI belongs to (by Net Assets): VTI, VB, IWM, VGT, VXF.

PI has underperformed the market in the last year with a price return of -13.6% while the SPY ETF gained +24.2%. However, in the short term, PI had mixed performance relative to the market. It has outperformed in the last 3 months, returning +16.2% vs +4.6% return in SPY. But in the last 2 weeks, PI shares have been beat by the market, returning -3.5% compared to an SPY return of -2.7%.

PI support price is $120.13 and resistance is $127.23 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that PI stock will trade within this expected range on the day.