Penguin Solutions (NASDAQ:PENG - Get Free Report) shares shot up 0.1% on Friday . The stock traded as high as $20.32 and last traded at $19.79. 177,803 shares were traded during trading, a decline of 83% from the average session volume of 1,032,714 shares. The stock had previously closed at $19.78.
Analyst Upgrades and Downgrades
PENG has been the topic of a number of analyst reports. Stifel Nicolaus dropped their price objective on shares of Penguin Solutions from $32.00 to $27.00 and set a "buy" rating on the stock in a report on Wednesday, October 16th. Barclays reduced their price objective 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. Citizens Jmp upgraded Penguin Solutions to a "strong-buy" rating in a research report on Monday, November 18th. Needham & Company LLC reduced their price target on Penguin Solutions from $35.00 to $25.00 and set a "buy" rating for the company in a research report on Wednesday, October 16th. Finally, The Goldman Sachs Group initiated coverage on shares of Penguin Solutions in a research note on Friday, November 1st. They set a "buy" rating and a $21.00 price objective on the stock. 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.com, the company currently has an average rating of "Buy" and a consensus target price of $23.60.
Read Our Latest Analysis on Penguin Solutions
Penguin Solutions Stock Performance
The company has a debt-to-equity ratio of 1.65, a quick ratio of 2.19 and a current ratio of 2.65. The firm has a 50 day simple moving average of $17.38. The firm has a market cap of $1.05 billion, a P/E ratio of -19.79 and a beta of 1.74.
Penguin Solutions (NASDAQ:PENG - Get Free Report) last issued its quarterly 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 negative net margin of 4.48% and a positive return on equity of 8.05%. The company had revenue of $311.15 million during the quarter, compared to the consensus estimate of $325.00 million. On average, equities research analysts forecast that Penguin Solutions will post 1.33 EPS for the current fiscal year.
Insider Buying and Selling
In other Penguin Solutions news, COO Jack A. Pacheco sold 13,334 shares of the firm's stock in a transaction that occurred on 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 approximately $4,730,998. This trade represents a 5.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Joseph Gates Clark sold 2,264 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $17.50, for a total transaction of $39,620.00. Following the sale, the insider now directly owns 95,999 shares of the company's stock, valued at $1,679,982.50. This represents a 2.30 % decrease in their position. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by insiders.
Penguin Solutions Company Profile
(
Get Free Report)
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.
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