Impinj, Inc. (NASDAQ:PI) is an American manufacturer of radio-frequency identification devices and software. The technology company helps businesses and individuals analyze, optimize and innovate by wirelessly connecting billions of everyday objects such as clothing, auto parts, luggage and shipping to the Internet. PI currently produces EPC Class 1, Gen 2 passive UHF RFID chips, RFID readers, RFID reader chips, and RFID antennas, as well as software applications for chip encoding and RFID systems business intelligence gathering.
Impinj’s share price has fallen about 6% year over year and PI is currently trading down 48% since hitting an all-time high of $94.39 in late December. Additionally, shares of PI have fallen 44% since the start of the year. However, Impinj’s stock is up 6% in the past month and has recovered 24% since hitting a 52-week low of $39.69 last July.
The RFID company has managed to increase its annual revenue by 61.6% since fiscal 2018, despite a 9.1% decline in revenue for fiscal 2020. Impinj is also expected to end fiscal 2022 with revenue growth. revenues by 15.4% and is expected to increase revenues by 23.7%. % for fiscal year 2023, which is decent for a stock trading at a price-to-sell ratio of 6.22.
Nevertheless, according to estimates, the IP ends fiscal 2022 with a 40% drop in earnings, which puts their forward price-to-earnings ratio at an extremely high figure of 833.33. Impinj also has $165.27 million in cash and $303.77 million in total debt on its balance sheet, which is not ideal for its long-term growth. Yet Impinj stock remains an intriguing small-cap speculative stock with expected earnings growth of 286.7% by FY2023. This makes PI a high-risk, high-reward play for investors in growing right now.
7 Metaverse Stocks That Can Be Out Of This World
If you’re a bit confused as to what the Metaverse is or will be. You’re not alone. In fact, as recently as November 2021, many senior tech executives who have plans for the Metaverse have struggled to define the Metaverse.
One of the best descriptions I’ve heard is that the metaverse will be Web 2.0. It will allow participants to interact in an interactive world combining virtual reality, augmented reality and video. It will be a world where you can visit digital representations of real houses and buy digital representations of real-world objects.
However, even that seems too simplistic. The way he is described by Metaplatforms CEO Mark Zuckerberg, it will be a world where your avatar can spend time with distant friends and family in a more realistic, albeit still virtual, way. I hope it’s not just me, but the whole concept leaves me feeling…disconnected. What I know is strange because the whole point is the connection.
However, many tech companies are pumping money into the metaverse, or at least their idea of it. And institutional investors realize this. This combination is almost always an indicator of stocks that are on their way higher.
This is the purpose of this article; to point out seven companies that are likely to be big players in the metaverse. And after a major correction in the tech sector, now may be the perfect time to buy these stocks at a discount.
See the “7 Metaverse Stocks That Can Be Out of This World”.