Penguin Solutions (NASDAQ:PENG) Shares Down 0.1% - Should You Sell?

Shares of Penguin Solutions (NASDAQ:PENG - Get Free Report) were down 0.1% during trading on Tuesday . The company traded as low as $19.28 and last traded at $19.59. Approximately 127,531 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 1,032,062 shares. The stock had previously closed at $19.61.

Wall Street Analyst Weigh In

PENG has been the subject of several recent analyst reports. JMP Securities started coverage on Penguin Solutions in a research note on Monday, November 18th. They set an "outperform" rating and a $23.00 target price for the company. Needham & Company LLC dropped their price objective on Penguin Solutions from $35.00 to $25.00 and set a "buy" rating on the stock in a report on Wednesday, October 16th. The Goldman Sachs Group initiated coverage on Penguin Solutions in a research note on Friday, November 1st. They set a "buy" rating and a $21.00 target price for the company. Barclays dropped their price target on shares of Penguin Solutions from $27.00 to $22.00 and set an "overweight" rating for the company in a research note on Wednesday, October 16th. Finally, Stifel Nicolaus decreased their price objective on shares of Penguin Solutions from $32.00 to $27.00 and set a "buy" rating for the company in a report on Wednesday, October 16th. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $23.60.

Penguin Solutions Stock Up 2.0 %

The stock has a market cap of $1.07 billion, a PE ratio of -19.71 and a beta of 1.74. The business has a 50 day simple moving average of $17.49. The company has a quick ratio of 2.19, a current ratio of 2.65 and a debt-to-equity ratio of 1.65.

Penguin Solutions (NASDAQ:PENG - Get Free Report) last posted its quarterly earnings results on Tuesday, October 15th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.04). The business had revenue of $311.15 million during the quarter, compared to analyst estimates of $325.00 million. Penguin Solutions had a negative net margin of 4.48% and a positive return on equity of 8.05%. Equities analysts forecast that Penguin Solutions will post 1.33 EPS for the current fiscal year.

Insider Transactions at Penguin Solutions

In related news, COO Jack A. Pacheco sold 13,334 shares of Penguin Solutions stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $20.05, for a total transaction of $267,346.70. Following the sale, the chief operating officer now directly owns 235,960 shares in the company, valued at $4,730,998. The trade was a 5.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joseph Gates Clark sold 2,264 shares of the firm's stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $17.50, for a total transaction of $39,620.00. Following the transaction, the insider now directly owns 95,999 shares in the company, valued at approximately $1,679,982.50. The trade was a 2.30 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.40% of the company's stock.

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.