Penguin Solutions (NASDAQ:PENG) Shares Down 9.6% - What's Next?

Shares of Penguin Solutions (NASDAQ:PENG - Get Free Report) traded down 9.6% during mid-day trading on Monday . The company traded as low as $18.53 and last traded at $18.67. 316,292 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 1,065,991 shares. The stock had previously closed at $20.65.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Rosenblatt Securities reiterated a "buy" rating and issued a $27.00 target price on shares of Penguin Solutions in a research report on Thursday, December 19th. Loop Capital started coverage on shares of Penguin Solutions in a research note on Tuesday, January 7th. They set a "buy" rating and a $30.00 price target on the stock. Barclays increased their price target on shares of Penguin Solutions from $22.00 to $23.00 and gave the stock an "overweight" rating in a research note on Thursday. Citizens Jmp upgraded shares of Penguin Solutions to a "strong-buy" rating in a research note on Monday, November 18th. Finally, Stifel Nicolaus dropped their price target on shares of Penguin Solutions from $32.00 to $27.00 and set a "buy" rating on the stock in a research note on Wednesday, October 16th. Six equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Penguin Solutions currently has an average rating of "Buy" and an average target price of $25.43.

Penguin Solutions Trading Down 6.6 %

The stock has a market capitalization of $1.03 billion, a PE ratio of -19.29 and a beta of 1.69. The business's fifty day moving average price is $18.67. 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 announced its earnings results on Tuesday, October 15th. The company reported $0.23 earnings per share for the quarter, missing analysts' consensus estimates of $0.27 by ($0.04). Penguin Solutions had a positive return on equity of 8.05% and a negative net margin of 4.48%. The company had revenue of $311.15 million during the quarter, compared to the consensus estimate of $325.00 million. Equities research analysts expect that Penguin Solutions will post 1.33 EPS for the current year.

Insider Transactions at Penguin Solutions

In other news, insider Joseph Gates Clark sold 2,264 shares of the business's stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $17.50, for a total value of $39,620.00. Following the sale, the insider now 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 document filed with the SEC, which can be accessed through the SEC website. Also, COO Jack A. Pacheco sold 13,334 shares of the business's stock in a transaction on Monday, December 9th. The stock was sold at an average price of $20.05, for a total transaction of $267,346.70. Following the completion of the sale, the chief operating officer now directly owns 235,960 shares in the company, valued at approximately $4,730,998. This represents a 5.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,264 shares of company stock worth $440,287 in the last quarter. 2.60% of the stock is owned by company insiders.

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.