Joseph Gates Clark Sells 2,131 Shares of Penguin Solutions (NASDAQ:PENG) Stock

Penguin Solutions (NASDAQ:PENG) SVP Joseph Gates Clark sold 2,131 shares of Penguin Solutions stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $20.94, for a total transaction of $44,623.14. Following the completion of the transaction, the senior vice president now directly owns 89,469 shares of the company’s stock, valued at $1,873,480.86. The trade was a 2.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Joseph Gates Clark also recently made the following trade(s):

• On Thursday, November 14th, Joseph Gates Clark sold 2,264 shares of Penguin Solutions stock. The stock was sold at an average price of $17.50, for a total value of $39,620.00.

Penguin Solutions Stock Down 8.5 %

Shares of NASDAQ PENG traded down $1.76 during mid-day trading on Monday, reaching $18.86. 1,853,216 shares of the company were exchanged, compared to its average volume of 1,127,263. Penguin Solutions has a 1 year low of $14.87 and a 1 year high of $29.81. The business has a 50-day simple moving average of $19.35. The firm has a market capitalization of $1.01 billion, a PE ratio of -36.27 and a beta of 1.69. The company has a current ratio of 2.33, a quick ratio of 1.75 and a debt-to-equity ratio of 1.61.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. The Goldman Sachs Group assumed coverage on Penguin Solutions in a report on Friday, November 1st. They issued a “buy” rating and a $21.00 target price for the company. Loop Capital began coverage on shares of Penguin Solutions in a research note on Tuesday, January 7th. They set a “buy” rating and a $30.00 price objective for the company. Citizens Jmp raised shares of Penguin Solutions to a “strong-buy” rating in a research note on Monday, November 18th. Rosenblatt Securities reaffirmed a “buy” rating and set a $27.00 price target on shares of Penguin Solutions in a research note on Thursday, December 19th. Finally, Needham & Company LLC increased their price objective on shares of Penguin Solutions from $25.00 to $27.00 and gave the stock a “buy” rating in a research report on Thursday, January 9th. Six 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 has an average rating of “Buy” and an average 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.