PENG (NASDAQ:PENG) Stock Price Down 0.9% – Should You Sell?

PENG (NASDAQ:PENG) shares traded down 0.9% during trading on Wednesday . The company traded as low as $16.95 and last traded at $16.95. 92,749 shares changed hands during trading, a decline of 91% from the average session volume of 1,049,200 shares. The stock had previously closed at $17.11.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PENG. JMP Securities began coverage on PENG in a report on Monday. They issued an “outperform” rating and a $23.00 target price on the stock. Stifel Nicolaus dropped their price objective on PENG from $32.00 to $27.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. Needham & Company LLC reduced their target price on shares of PENG from $35.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. The Goldman Sachs Group started coverage on shares of PENG in a report on Friday, November 1st. They issued a “buy” rating and a $21.00 target price for the company. Finally, Barclays cut their price target on shares of PENG from $27.00 to $22.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Five analysts have rated the stock with a buy rating, According to MarketBeat, PENG has an average rating of “Buy” and a consensus price target of $23.60.

PENG Price Performance

The company has a market cap of $928.84 million, a PE ratio of -17.43 and a beta of 1.70. The company has a debt-to-equity ratio of 1.65, a current ratio of 2.65 and a quick ratio of 2.19.

PENG (NASDAQ:PENG) last posted its quarterly earnings data on Tuesday, October 15th. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.04). The company had revenue of $311.15 million for the quarter, compared to analysts’ expectations of $325.00 million. PENG had a positive return on equity of 8.05% and a negative net margin of 4.48%. On average, equities research analysts expect that PENG will post 1.33 earnings per share for the current fiscal year.

Insider Transactions at PENG

In other PENG news, 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 owns 95,999 shares in the company, valued at $1,679,982.50. This represents a 2.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.40% of the stock is currently owned by company insiders.

About PENG

SMART Global Holdings, Inc, a memory-focused company, engages in the designing and development of enterprise solutions in the United States, China, Europe, and internationally. It operates through Memory Solutions, Intelligent Platform Solutions, and LED Solutions segments. The company offers dynamic random access memory modules, solid-state and flash storage, and other advanced 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.