PENG (NASDAQ:PENG) Trading Down 0.8% - What's Next?

PENG (NASDAQ:PENG - Get Free Report)'s share price traded down 0.8% during mid-day trading on Friday . The stock traded as low as $17.65 and last traded at $17.99. 696,450 shares traded hands during mid-day trading, a decline of 25% from the average session volume of 927,830 shares. The stock had previously closed at $18.14.

Analysts Set New Price Targets

PENG has been the topic of several recent research reports. JMP Securities began coverage on shares of PENG in a report on Monday, November 18th. They set an "outperform" rating and a $23.00 target price on the stock. Needham & Company LLC reduced their price objective on PENG from $35.00 to $25.00 and set a "buy" rating on the stock in a research note on Wednesday, October 16th. Citizens Jmp upgraded PENG to a "strong-buy" rating in a research note on Monday, November 18th. Stifel Nicolaus dropped their target price on PENG from $32.00 to $27.00 and set a "buy" rating on the stock in a report on Wednesday, October 16th. Finally, The Goldman Sachs Group initiated coverage on PENG in a report on Friday, November 1st. They issued a "buy" rating and a $21.00 price target for the company. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, PENG currently has an average rating of "Buy" and a consensus price target of $23.60.

PENG Stock Performance

The stock has a market capitalization of $966.68 million, a PE ratio of -18.14 and a beta of 1.70. The company has a quick ratio of 2.19, a current ratio of 2.65 and a debt-to-equity ratio of 1.65.

PENG (NASDAQ:PENG - Get Free Report) last posted its quarterly earnings data 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). PENG had a positive return on equity of 8.05% and a negative net margin of 4.48%. The business had revenue of $311.15 million for the quarter, compared to analysts' expectations of $325.00 million. As a group, research analysts predict that PENG will post 1.33 EPS for the current year.

Insiders Place Their Bets

In related news, insider Joseph Gates Clark sold 2,264 shares of the business's stock in a transaction dated 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 sale, the insider now directly owns 95,999 shares of the company's stock, valued at $1,679,982.50. The trade was a 2.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.40% of the stock is owned by company insiders.

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.