Penguin Solutions (PENG) Expected to Announce Earnings on Wednesday

Penguin Solutions (NASDAQ:PENG - Get Free Report) is expected to post its quarterly earnings results after the market closes on Wednesday, April 2nd. Analysts expect Penguin Solutions to post earnings of $0.33 per share and revenue of $344.44 million for the quarter.

Penguin Solutions Stock Down 4.3 %

Shares of NASDAQ PENG traded down $0.79 during trading on Friday, reaching $17.46. 706,116 shares of the stock were exchanged, compared to its average volume of 899,233. The company has a market cap of $930.46 million, a P/E ratio of -33.58 and a beta of 1.70. The business's 50-day moving average price is $19.74. The company has a quick ratio of 1.75, a current ratio of 2.33 and a debt-to-equity ratio of 1.61. Penguin Solutions has a twelve month low of $14.87 and a twelve month high of $22.67.

Insider Activity

In related news, SVP Joseph Gates Clark sold 2,131 shares of the company's stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $20.94, for a total transaction of $44,623.14. Following the completion of the sale, the senior vice president now directly owns 89,469 shares of the company's stock, valued at approximately $1,873,480.86. This represents a 2.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jack A. Pacheco sold 3,219 shares of Penguin Solutions stock in a transaction on Monday, March 24th. The stock was sold at an average price of $20.00, for a total transaction of $64,380.00. Following the completion of the transaction, the executive vice president now owns 231,548 shares in the company, valued at $4,630,960. This trade represents a 1.37 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,684 shares of company stock worth $393,617. 2.60% of the stock is owned by corporate insiders.

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Wall Street Analysts Forecast Growth

A number of research firms have commented on PENG. Barclays increased their price objective on shares of Penguin Solutions from $22.00 to $23.00 and gave the company an "overweight" rating in a research note on Thursday, January 9th. Rosenblatt Securities restated a "buy" rating and set a $27.00 price objective on shares of Penguin Solutions in a research note on Thursday, December 19th. Loop Capital initiated coverage on shares of Penguin Solutions in a report on Tuesday, January 7th. They set a "buy" rating and a $30.00 target price on the stock. Finally, Needham & Company LLC upped their target price on Penguin Solutions from $25.00 to $27.00 and gave the company a "buy" rating in a report on Thursday, January 9th. Six investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Penguin Solutions presently has an average rating of "Buy" and a consensus target price of $25.43.

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.