Penguin Solutions (NASDAQ:PENG) Trading Up 0.8% – Should You Buy?

Penguin Solutions (NASDAQ:PENG)’s share price shot up 0.8% during mid-day trading on Wednesday . The company traded as high as $20.54 and last traded at $20.23. 104,265 shares were traded during trading, a decline of 90% from the average session volume of 1,036,045 shares. The stock had previously closed at $20.06.

Analyst Ratings Changes

PENG has been the subject of a number of analyst reports. Needham & Company LLC decreased their price objective on shares of Penguin Solutions from $35.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. The Goldman Sachs Group started coverage on shares of Penguin Solutions in a report on Friday, November 1st. They issued a “buy” rating and a $21.00 price objective on the stock. Citizens Jmp upgraded shares of Penguin Solutions to a “strong-buy” rating in a research note on Monday, November 18th. JMP Securities began coverage on shares of Penguin Solutions in a report on Monday, November 18th. They issued an “outperform” rating and a $23.00 price target on the stock. Finally, Barclays lowered their target price on Penguin Solutions from $27.00 to $22.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Penguin Solutions currently has an average rating of “Buy” and a consensus price target of $23.60.

Penguin Solutions Price Performance

The company’s 50-day moving average is $17.38. The firm has a market cap of $1.06 billion, a P/E ratio of -19.79 and a beta of 1.74. The company has a quick ratio of 2.19, a current ratio of 2.65 and a debt-to-equity ratio of 1.65.

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 firm had revenue of $311.15 million for 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%. As a group, research analysts predict that Penguin Solutions will post 1.33 EPS for the current year.

Insider Transactions at Penguin Solutions

In other news, COO Jack A. Pacheco sold 13,334 shares of Penguin Solutions stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $20.05, for a total transaction of $267,346.70. Following the sale, the chief operating officer now directly owns 235,960 shares of the company’s stock, valued at approximately $4,730,998. This trade represents a 5.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $39,620.00. Following the completion of the transaction, the insider now owns 95,999 shares of the company’s stock, valued at approximately $1,679,982.50. This trade represents a 2.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.40% of the company’s stock.

Penguin Solutions Company Profile

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.