Penguin Solutions (NASDAQ:PENG) EVP Sells $64,380.00 in Stock

Penguin Solutions (NASDAQ:PENG) EVP Jack A. Pacheco sold 3,219 shares of the business’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $20.00, for a total transaction of $64,380.00. Following the transaction, the executive vice president now directly owns 231,548 shares in the company, valued at $4,630,960. This trade represents a 1.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Penguin Solutions Stock Down 3.6 %

Shares of PENG opened at $18.25 on Friday. The company has a current ratio of 2.33, a quick ratio of 1.75 and a debt-to-equity ratio of 1.61. The business’s 50-day simple moving average is $19.80. The company has a market capitalization of $972.56 million, a PE ratio of -35.10 and a beta of 1.70. Penguin Solutions has a 12 month low of $14.87 and a 12 month high of $22.67.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Needham & Company LLC boosted their price objective on shares of Penguin Solutions from $25.00 to $27.00 and gave the stock a “buy” rating in a report on Thursday, January 9th. Barclays boosted their price target on Penguin Solutions from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Thursday, January 9th. Loop Capital initiated coverage on Penguin Solutions in a report on Tuesday, January 7th. They issued a “buy” rating and a $30.00 price target for the company. Finally, Rosenblatt Securities reissued a “buy” rating and set a $27.00 price objective on shares of Penguin Solutions in a report on Thursday, December 19th. Six investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $25.43.

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.