Penguin Solutions (NASDAQ:PENG) Stock Price Up 4.7% – What’s Next?

Penguin Solutions (NASDAQ:PENG) shares traded up 4.7% on Monday . The stock traded as high as $19.56 and last traded at $19.38. 118,460 shares traded hands during trading, a decline of 89% from the average session volume of 1,045,879 shares. The stock had previously closed at $18.51.

Analysts Set New Price Targets

A number of research firms recently issued reports on PENG. Stifel Nicolaus reduced their price objective on Penguin Solutions from $32.00 to $27.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Rosenblatt Securities reissued a “buy” rating and set a $27.00 price target on shares of Penguin Solutions in a report on Thursday. Citizens Jmp upgraded shares of Penguin Solutions to a “strong-buy” rating in a research report on Monday, November 18th. Barclays reduced their target price on shares of Penguin Solutions from $27.00 to $22.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Finally, JMP Securities started coverage on shares of Penguin Solutions in a research note on Monday, November 18th. They issued an “outperform” rating and a $23.00 price target on the stock. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Penguin Solutions presently has an average rating of “Buy” and an average target price of $24.17.

Penguin Solutions Trading Up 4.1 %

The company has a current ratio of 2.65, a quick ratio of 2.19 and a debt-to-equity ratio of 1.65. The company’s 50-day moving average price is $17.62. The firm has a market cap of $1.03 billion, a P/E ratio of -19.27 and a beta of 1.74.

Penguin Solutions (NASDAQ:PENG) last posted its quarterly earnings results on Tuesday, October 15th. The company reported $0.23 earnings per share (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 positive return on equity of 8.05% and a negative net margin of 4.48%. Equities analysts forecast that Penguin Solutions will post 1.33 earnings per share for the current year.

Insider Transactions at Penguin Solutions

In related news, insider Joseph Gates Clark sold 2,264 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $17.50, for a total value of $39,620.00. Following the completion of the sale, the insider now owns 95,999 shares in the company, valued at approximately $1,679,982.50. This represents a 2.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jack A. Pacheco sold 13,334 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $20.05, for a total value of $267,346.70. Following the completion of the sale, the chief operating officer now owns 235,960 shares of the company’s stock, valued at $4,730,998. The trade was a 5.35 % decrease in their position. The disclosure for this sale can be found here. 2.40% of the stock is owned by insiders.

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.