Penguin Solutions (NASDAQ:PENG) Coverage Initiated at Loop Capital

Stock analysts at Loop Capital began coverage on shares of Penguin Solutions (NASDAQ:PENG) in a note issued to investors on Tuesday,Benzinga reports. The brokerage set a “buy” rating and a $30.00 price target on the stock. Loop Capital’s price target would suggest a potential upside of 52.05% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on the company. Stifel Nicolaus dropped their price objective on Penguin Solutions from $32.00 to $27.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. Barclays cut their price target 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. 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. Citizens Jmp upgraded shares of Penguin Solutions to a “strong-buy” rating in a research note on Monday, November 18th. Finally, 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 report on Wednesday, October 16th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Penguin Solutions has an average rating of “Buy” and a consensus target price of $25.00.

Penguin Solutions Stock Performance

Shares of PENG stock opened at $19.73 on Tuesday. Penguin Solutions has a 52 week low of $14.87 and a 52 week high of $29.81. The company has a quick ratio of 2.19, a current ratio of 2.65 and a debt-to-equity ratio of 1.65. The business’s 50 day moving average is $18.34. The firm has a market cap of $1.05 billion, a P/E ratio of -19.73 and a beta of 1.69.

Penguin Solutions (NASDAQ:PENG) last announced its earnings results 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 firm had revenue of $311.15 million during 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%. Analysts forecast that Penguin Solutions will post 1.33 earnings per share for the current year.

Insider Buying and Selling

In other Penguin Solutions news, insider Joseph Gates Clark sold 2,264 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $17.50, for a total value of $39,620.00. Following the transaction, 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Jack A. Pacheco sold 13,334 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $20.05, for a total value of $267,346.70. Following the transaction, the chief operating officer now owns 235,960 shares in the company, valued at $4,730,998. The trade was a 5.35 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,264 shares of company stock valued at $440,287. Company insiders own 2.60% of the company’s stock.

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.