Impinj (PI) Stock: Flying On Earnings

Impinj PI Stock NewsImpinj Inc (NASDAQ: PI) is having an overwhelmingly strong start to the trading session this morning, and for good reason. The company completed an internal audit and reported earnings that we better than expected. Of course, the news excited investors, sending the stock screaming for the top. Today, we’ll talk about:

  • The earnings report;
  • what we’re seeing from PI stock as a result; and
  • what we’ll be watching for ahead.

PI Heads Up On Strong Earnings

As mentioned above, Impinj is having an incredibly strong start to the trading session this morning after the company announced that it has completed an internal audit and reported earnings. Here’s what we saw from the earn9ings report:

  • Internal Audit – In the release with earnings, the company said that the internal audit found no credible evidence to support a complaint filed by its former employee.
  • Net Loss – During the quarter, PI reported a net loss of $7.7 million, which works out to $0.36 per share. The adjusted net loss came in at $0.19 per share. Analysts expected that the company would generate a net loss of $0.27 per share.
  • Revenue – In terms of revenue, the company hit the nail on the head. During the quarter, revenue came in at $28.5 million. Analysts expected that the company produce this exact amount of revenue.
  • Guidance – PI said that it is expecting to report an adjusted third quarter loss of between $0.17 per share and $0.12 per share. Currently, analysts are expecting a loss of $0.27 during the quarter. Revenue for the third quarter is expected to come in between $33 million and $34 million. Analysts are expecting for revenue for the quarter to come in at $30.3 million.

What We’re Seeing From The Stock 

One of the first lessons that we learn when we start to dig into the market is that the news leads to moves. In the case of Impinj, the news proved to be overwhelmingly positive. First and foremost, an internal audit found a previous employee’s claims to be baseless. On top of that, the company beat expectations with regard to losses on a per share basis and guided for a better-than-expected third quarter. So, it comes as no surprise to see that excited investors are sending the stock running for the top. Of course, our partners at Trade Ideas were the first to alert us to the gains. Currently (10:31), PI is trading at $26.44 per share after a gain of $7.66 per share or 40.77% thus far today.

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What We’ll Be Watching For Ahead

Moving forward, the CNA Finance team will continue to keep a close eye on PI. In particular, we’re interested in following the story surrounding the company’s continued growth following a strong quarter. Nonetheless, we’ll keep a close eye on the news and bring it to you as it breaks!

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