Penguin Solutions (NASDAQ:PENG) Stock Price Up 3.2% – What’s Next?

Penguin Solutions (NASDAQ:PENG) shares shot up 3.2% during trading on Monday . The company traded as high as $20.53 and last traded at $20.50. 216,640 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 1,036,838 shares. The stock had previously closed at $19.87.

Analyst Ratings Changes

PENG has been the topic of several recent research reports. Barclays reduced their price target 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. Citizens Jmp upgraded shares of Penguin Solutions to a “strong-buy” rating in a research note on Monday, November 18th. Needham & Company LLC lowered their price target 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 began 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. Finally, JMP Securities started coverage on shares of Penguin Solutions in a report on Monday, November 18th. They set an “outperform” rating and a $23.00 target price for the company. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $23.60.

Penguin Solutions Stock Performance

The stock has a market cap of $1.07 billion, a P/E ratio of -20.06 and a beta of 1.74. The company has a current ratio of 2.65, a quick ratio of 2.19 and a debt-to-equity ratio of 1.65.

Penguin Solutions (NASDAQ:PENG) last issued its 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 during the quarter, compared to the consensus estimate 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, equities analysts predict that Penguin Solutions will post 1.33 earnings per share for the current fiscal year.

Insider Buying and Selling at Penguin Solutions

In other Penguin Solutions news, insider Joseph Gates Clark sold 2,264 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $17.50, for a total value 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. The trade was a 2.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.40% of the company’s stock.

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.