Penguin Solutions (NASDAQ:PENG) SVP Joseph Gates Clark Sells 2,131 Shares

Penguin Solutions (NASDAQ:PENG) SVP Joseph Gates Clark sold 2,131 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president now owns 89,469 shares in the company, valued at $1,873,480.86. The trade was a 2.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Joseph Gates Clark also recently made the following trade(s):

• On Thursday, November 14th, Joseph Gates Clark sold 2,264 shares of Penguin Solutions stock. The shares were sold at an average price of $17.50, for a total transaction of $39,620.00.

Penguin Solutions Stock Down 8.5 %

Shares of PENG opened at $18.86 on Tuesday. The stock has a market cap of $1.01 billion, a P/E ratio of -36.27 and a beta of 1.69. Penguin Solutions has a fifty-two week low of $14.87 and a fifty-two week high of $29.81. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.75 and a current ratio of 2.33. The business’s 50 day simple moving average is $19.35.

Analysts Set New Price Targets

Several research firms have issued reports on PENG. The Goldman Sachs Group started coverage on Penguin Solutions in a research note on Friday, November 1st. They set a “buy” rating and a $21.00 target price for the company. Loop Capital initiated coverage on shares of Penguin Solutions in a report on Tuesday, January 7th. They issued a “buy” rating and a $30.00 price objective on the stock. JMP Securities assumed coverage on shares of Penguin Solutions in a research note on Monday, November 18th. They set an “outperform” rating and a $23.00 target price for the company. Barclays boosted their price target 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. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $27.00 price objective on shares of Penguin Solutions in a research report on Thursday, December 19th. Six investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Penguin Solutions currently has a consensus rating of “Buy” and a consensus price target of $25.43.

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.