PENG (NASDAQ:PENG) Trading Down 1.4% – Here’s What Happened

PENG (NASDAQ:PENG)’s share price dropped 1.4% during mid-day trading on Wednesday . The stock traded as low as $17.80 and last traded at $17.89. Approximately 142,646 shares were traded during trading, a decline of 86% from the average daily volume of 1,044,159 shares. The stock had previously closed at $18.14.

Analyst Ratings Changes

A number of research firms recently commented on PENG. Citizens Jmp raised PENG to a “strong-buy” rating in a research report on Monday, November 18th. Stifel Nicolaus cut their price objective on shares of PENG from $32.00 to $27.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. JMP Securities initiated coverage on shares of PENG in a research note on Monday, November 18th. They issued an “outperform” rating and a $23.00 target price on the stock. The Goldman Sachs Group began coverage on shares of PENG in a research report on Friday, November 1st. They set a “buy” rating and a $21.00 price target for the company. Finally, Barclays dropped their price objective on PENG from $27.00 to $22.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $23.60.

PENG Price Performance

The company has a market capitalization of $958.69 million, a PE ratio of -17.99 and a beta of 1.70. The company has a quick ratio of 2.19, a current ratio of 2.65 and a debt-to-equity ratio of 1.65.

PENG (NASDAQ:PENG) last posted its quarterly earnings results on Tuesday, October 15th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.04). PENG had a positive return on equity of 8.05% and a negative net margin of 4.48%. The business had revenue of $311.15 million during the quarter, compared to the consensus estimate of $325.00 million. As a group, equities analysts expect that PENG will post 1.33 EPS for the current year.

Insider Activity at PENG

In other PENG news, insider Joseph Gates Clark sold 2,264 shares of the firm’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 owns 95,999 shares of the company’s stock, valued at $1,679,982.50. This trade represents a 2.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.40% of the stock is currently owned by company insiders.

About PENG

SMART Global Holdings, Inc, a memory-focused company, engages in the designing and development of enterprise solutions in the United States, China, Europe, and internationally. It operates through Memory Solutions, Intelligent Platform Solutions, and LED Solutions segments. The company offers dynamic random access memory modules, solid-state and flash storage, and other advanced 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.