Penguin Solutions (NASDAQ:PENG) Upgraded by Loop Capital to “Strong-Buy” Rating

Penguin Solutions (NASDAQ:PENG) was upgraded by Loop Capital to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

PENG has been the subject of several other reports. JMP Securities began coverage on shares of Penguin Solutions in a research report on Monday, November 18th. They set an “outperform” rating and a $23.00 price target for the company. Citizens Jmp upgraded shares of Penguin Solutions to a “strong-buy” rating in a research note on Monday, November 18th. Stifel Nicolaus decreased their price objective on Penguin Solutions from $32.00 to $27.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. Barclays dropped 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. Finally, Needham & Company LLC dropped their price target on Penguin Solutions from $35.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. Six analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $25.00.

Penguin Solutions Stock Performance

NASDAQ PENG opened at $19.84 on Monday. The company has a market capitalization of $1.06 billion, a P/E ratio of -19.84 and a beta of 1.69. Penguin Solutions has a 52-week low of $14.87 and a 52-week high of $29.81. 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 simple moving average is $18.42.

Penguin Solutions (NASDAQ:PENG) last announced its quarterly 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 company had revenue of $311.15 million during the quarter, compared to analysts’ expectations of $325.00 million. Penguin Solutions had a negative net margin of 4.48% and a positive return on equity of 8.05%. On average, analysts forecast that Penguin Solutions will post 1.33 earnings per share for the current fiscal 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 shares were sold at an average price of $17.50, for a total value of $39,620.00. Following the sale, the insider now directly owns 95,999 shares of the company’s stock, valued at approximately $1,679,982.50. This represents a 2.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jack A. Pacheco sold 6,666 shares of Penguin Solutions stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $20.00, for a total value of $133,320.00. Following the transaction, the chief operating officer now owns 235,960 shares of the company’s stock, valued at $4,719,200. The trade was a 2.75 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,264 shares of company stock worth $440,287. 2.60% of the stock is owned by company insiders.

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.