Penguin Solutions (NASDAQ:PENG) Given Average Rating of "Buy" by Analysts

Shares of Penguin Solutions (NASDAQ:PENG - Get Free Report) have earned a consensus recommendation of "Buy" from the eight brokerages that are currently covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $25.43.

PENG has been the topic of several analyst reports. Needham & Company LLC lifted their target price on shares of Penguin Solutions from $25.00 to $27.00 and gave the stock a "buy" rating in a research note on Thursday, January 9th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $27.00 target price on shares of Penguin Solutions in a research note on Thursday, December 19th. Loop Capital initiated coverage on shares of Penguin Solutions in a research note on Tuesday, January 7th. They issued a "buy" rating and a $30.00 target price on the stock. Barclays lifted their target price on shares of Penguin Solutions from $22.00 to $23.00 and gave the stock an "overweight" rating in a research note on Thursday, January 9th. Finally, Citizens Jmp raised shares of Penguin Solutions to a "strong-buy" rating in a research note on Monday, November 18th.

Insider Buying and Selling at Penguin Solutions

In other news, SVP Joseph Gates Clark sold 2,131 shares of the business's stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $20.94, for a total transaction of $44,623.14. Following the sale, the senior vice president now owns 89,469 shares in the company, valued at approximately $1,873,480.86. The trade was a 2.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Jack A. Pacheco sold 6,666 shares of the business's stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $20.00, for a total transaction of $133,320.00. Following the sale, the chief operating officer now owns 235,960 shares in the company, valued at approximately $4,719,200. This trade represents a 2.75 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,465 shares of company stock valued at $729,904. 2.60% of the stock is currently owned by company insiders.

Remove Ads

Penguin Solutions Trading Down 5.5 %

Shares of PENG stock traded down $1.04 during trading hours on Monday, hitting $17.91. 252,528 shares of the company's stock were exchanged, compared to its average volume of 819,232. The stock has a market capitalization of $954.44 million, a P/E ratio of -34.44 and a beta of 1.70. Penguin Solutions has a 12-month low of $14.87 and a 12-month high of $29.81. The stock has a 50 day simple moving average of $20.19. The company has a quick ratio of 1.75, a current ratio of 2.33 and a debt-to-equity ratio of 1.61.

Penguin Solutions Company Profile

Penguin Solutions, Inc engages in the designing and development of enterprise solutions worldwide. It operates through three segments: Advanced Computing, Integrated Memory, and Optimized LED. It offers dynamic random access memory modules, solid-state and flash storage, and other advanced integrated 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.