PENG (NASDAQ:PENG) Shares Gap Up - Time to Buy?

PENG (NASDAQ:PENG - Get Free Report)'s share price gapped up before the market opened on Friday . The stock had previously closed at $15.05, but opened at $15.66. PENG shares last traded at $16.02, with a volume of 135,964 shares changing hands.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Barclays lowered their target price on PENG from $27.00 to $22.00 and set an "overweight" rating on the stock in a report on Wednesday, October 16th. Stifel Nicolaus dropped their target price on shares of PENG from $32.00 to $27.00 and set a "buy" rating for the company in a research report on Wednesday, October 16th. Needham & Company LLC cut their price target on shares of PENG from $35.00 to $25.00 and set a "buy" rating on the stock in a research note on Wednesday, October 16th. Finally, The Goldman Sachs Group began coverage on shares of PENG in a research note on Friday. They set a "buy" rating and a $21.00 price objective for the company.

PENG Stock Up 6.1 %

The company has a quick ratio of 2.19, a current ratio of 2.65 and a debt-to-equity ratio of 1.65. The company has a market cap of $851.04 million, a P/E ratio of -15.97 and a beta of 1.67.

PENG Company Profile

SMART Global Holdings, Inc, a memory-focused company, engages in the designing and development of enterprise solutions in the United States, China, Europe, and internationally. It operates through Memory Solutions, Intelligent Platform Solutions, and LED Solutions segments. The company offers dynamic random access memory modules, solid-state and flash storage, and other advanced memory solutions for networking and telecom, data analytics, artificial intelligence and machine learning applications; and supply chain services including procurement, logistics, inventory management, temporary warehousing, programming, kitting, and packaging services.