RBC Capital analyst Mitch Steves raised his price target on Impinj Inc (NASDAQ: PI) to $59.00 (from $50.00) while maintaining a Outperform rating and added the stock to their Unofficial "Do Not Short List".
Investors have taken notice of Impinj Inc (PI) shares. They may be keeping a close watch on certain stock levels. A popular indicator among technical analysts that can help to measure the strength of market momentum is the Average Directional Index or ADX.
Impinj reported strong first-quarter results on May 4, sending share prices as much as 16% higher the next day. The company reported a small adjusted profit where Wall Street had expected a small loss, while sales rose 47% year over year.
In recent trading day Impinj, Inc. (PI) stock showed the move of -2.09% with the closing price of $54.68. Closing price generally refers to the last price at which a stock trades during a regular trading session.
Impinj, Inc. (PI) is an interesting player in the Technology space, with a focus on Communication Equipment. The stock has been active on the tape, currently trading at $44.38, up from yesterday's close by 8.35%.