Penguin Solutions (NASDAQ:PENG) Stock Price Down 2% After Insider Selling

Penguin Solutions (NASDAQ:PENG - Get Free Report) fell 2% on Thursday following insider selling activity. The company traded as low as $20.13 and last traded at $20.15. 84,038 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 1,033,764 shares. The stock had previously closed at $20.57.

Specifically, COO Jack A. Pacheco sold 13,334 shares of the business's stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $20.05, for a total transaction of $267,346.70. Following the sale, the chief operating officer now owns 235,960 shares in the company, valued at approximately $4,730,998. The trade was a 5.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. JMP Securities assumed coverage on Penguin Solutions in a report on Monday, November 18th. They set an "outperform" rating and a $23.00 target price for the company. Needham & Company LLC reduced their price target 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. Citizens Jmp raised shares of Penguin Solutions to a "strong-buy" rating in a report on Monday, November 18th. Stifel Nicolaus reduced their target price 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. Finally, The Goldman Sachs Group began coverage on shares of Penguin Solutions in a research report on Friday, November 1st. They set a "buy" rating and a $21.00 target price for the company. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Penguin Solutions presently has an average 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 quick ratio of 2.19 and a current ratio of 2.65. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of -19.78 and a beta of 1.74. The company has a 50 day moving average of $17.38.

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 firm had revenue of $311.15 million for 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%. Sell-side analysts anticipate that Penguin Solutions will post 1.33 earnings per share for the current fiscal year.

About Penguin Solutions

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.