PENG (NASDAQ:PENG) Trading 2.3% Higher - Here's What Happened

Shares of PENG (NASDAQ:PENG - Get Free Report) rose 2.3% on Monday . The company traded as high as $18.74 and last traded at $18.56. Approximately 114,859 shares changed hands during trading, a decline of 89% from the average daily volume of 1,039,517 shares. The stock had previously closed at $18.14.

Analysts Set New Price Targets

A number of equities research analysts have commented on PENG shares. Stifel Nicolaus reduced their price objective on PENG from $32.00 to $27.00 and set a "buy" rating for the company in a research note on Wednesday, October 16th. JMP Securities assumed coverage on shares of PENG in a report on Monday, November 18th. They set an "outperform" rating and a $23.00 price objective on the stock. Citizens Jmp raised shares of PENG to a "strong-buy" rating in a research note on Monday, November 18th. The Goldman Sachs Group began coverage on shares of PENG in a research report on Friday, November 1st. They set a "buy" rating and a $21.00 target price for the company. Finally, Barclays dropped their price target on shares of PENG from $27.00 to $22.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 16th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $23.60.

PENG Price Performance

The company has a current ratio of 2.65, a quick ratio of 2.19 and a debt-to-equity ratio of 1.65. The company has a market cap of $1.00 billion, a price-to-earnings ratio of -18.56 and a beta of 1.70.

PENG (NASDAQ:PENG - Get Free Report) last issued its earnings results on Tuesday, October 15th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.04). The firm had revenue of $311.15 million during the quarter, compared to the consensus estimate of $325.00 million. PENG had a negative net margin of 4.48% and a positive return on equity of 8.05%. As a group, equities research analysts anticipate that PENG will post 1.33 EPS for the current year.

Insider Transactions at PENG

In other news, insider Joseph Gates Clark sold 2,264 shares of the firm's stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $17.50, for a total value of $39,620.00. Following the completion of the transaction, the insider now directly owns 95,999 shares of the company's stock, valued at $1,679,982.50. This trade represents a 2.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.40% of the company's stock.

About PENG

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.

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