Penguin Solutions (NASDAQ:PENG) Shares Up 1% - Here's Why

Penguin Solutions (NASDAQ:PENG - Get Free Report) shares rose 1% on Friday . The company traded as high as $19.73 and last traded at $19.65. Approximately 140,831 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 1,038,494 shares. The stock had previously closed at $19.46.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on PENG shares. Needham & Company LLC lowered their price objective on shares of Penguin Solutions from $35.00 to $25.00 and set a "buy" rating for the company in a research report on Wednesday, October 16th. Stifel Nicolaus cut their price objective on shares of Penguin Solutions from $32.00 to $27.00 and set a "buy" rating on the stock in a research report on Wednesday, October 16th. Barclays reduced their price target on Penguin Solutions from $27.00 to $22.00 and set an "overweight" rating for the company in a research report on Wednesday, October 16th. JMP Securities started coverage on shares of Penguin Solutions in a research report on Monday, November 18th. They set an "outperform" rating and a $23.00 price target on the stock. Finally, Citizens Jmp upgraded shares of Penguin Solutions to a "strong-buy" rating in a research note on Monday, November 18th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $23.60.

Penguin Solutions Stock Performance

The company has a debt-to-equity ratio of 1.65, a current ratio of 2.65 and a quick ratio of 2.19. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of -19.65 and a beta of 1.74.

Penguin Solutions (NASDAQ:PENG - Get Free Report) last released 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%. On average, research analysts expect that Penguin Solutions will post 1.33 EPS for the current year.

Insider Activity at Penguin Solutions

In related news, insider Joseph Gates Clark sold 2,264 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $17.50, for a total transaction of $39,620.00. Following the sale, the insider now owns 95,999 shares in the company, valued at approximately $1,679,982.50. This trade represents a 2.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.40% of the stock is currently owned by corporate 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.