Penguin Solutions (NASDAQ:PENG) COO Sells $147,607.38 in Stock

Penguin Solutions (NASDAQ:PENG) COO Jack A. Pacheco sold 6,667 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $22.14, for a total value of $147,607.38. Following the transaction, the chief operating officer now directly owns 231,548 shares in the company, valued at $5,126,472.72. The trade was a 2.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Penguin Solutions Stock Performance

Shares of PENG stock opened at $21.35 on Friday. Penguin Solutions has a 52-week low of $14.87 and a 52-week high of $29.81. The company has a debt-to-equity ratio of 1.61, a current ratio of 2.33 and a quick ratio of 1.75. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of -41.06 and a beta of 1.68. The business has a fifty day simple moving average of $20.10.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PENG. Needham & Company LLC upped their price objective on Penguin Solutions from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Thursday, January 9th. Loop Capital began coverage on Penguin Solutions in a research note on Tuesday, January 7th. They issued a “buy” rating and a $30.00 price objective for the company. Barclays upped their price objective on Penguin Solutions from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Thursday, January 9th. JMP Securities began coverage on Penguin Solutions in a research note on Monday, November 18th. They issued an “outperform” rating and a $23.00 price objective for the company. Finally, Rosenblatt Securities restated a “buy” rating and issued a $27.00 price objective on shares of Penguin Solutions in a research note on Thursday, December 19th. Six equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price 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.