Insider Selling: PENG (NASDAQ:PENG) Insider Sells 2,264 Shares of Stock

PENG (NASDAQ:PENG) insider Joseph Gates Clark sold 2,264 shares of the business’s stock in a transaction 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 sale, the insider now owns 95,999 shares in the company, valued at approximately $1,679,982.50. The trade was a 2.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

PENG Trading Down 4.2 %

PENG traded down $0.72 during midday trading on Friday, reaching $16.42. The company’s stock had a trading volume of 799,772 shares, compared to its average volume of 1,057,687. PENG has a 1 year low of $14.87 and a 1 year high of $29.81. The company has a debt-to-equity ratio of 1.65, a quick ratio of 2.19 and a current ratio of 2.65.

PENG (NASDAQ:PENG) last posted its quarterly earnings data on Tuesday, October 15th. The company reported $0.23 earnings per share 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 the consensus estimate of $325.00 million. PENG had a negative net margin of 4.48% and a positive return on equity of 8.05%. Sell-side analysts forecast that PENG will post 1.33 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Barclays reduced their price target on PENG from $27.00 to $22.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Stifel Nicolaus decreased their target price on shares of 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 dropped their price target on shares of PENG from $35.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Finally, The Goldman Sachs Group started coverage on shares of PENG in a research report on Friday, November 1st. They issued a “buy” rating and a $21.00 price objective on the stock.

PENG Company Profile

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.