Penguin Solutions (NASDAQ:PENG) Shares Down 0.1% – Should You Sell?

Penguin Solutions (NASDAQ:PENG) shares were down 0.1% during trading on Tuesday . The company traded as low as $19.28 and last traded at $19.59. Approximately 127,531 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 1,032,062 shares. The stock had previously closed at $19.61.

Analyst Ratings Changes

A number of research analysts have recently commented on PENG shares. The Goldman Sachs Group started coverage on Penguin Solutions in a research note on Friday, November 1st. They issued a “buy” rating and a $21.00 price target for the company. JMP Securities started coverage on Penguin Solutions in a research note on Monday, November 18th. They issued an “outperform” rating and a $23.00 price target for the company. Stifel Nicolaus dropped their price target on Penguin Solutions from $32.00 to $27.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Citizens Jmp raised Penguin Solutions to a “strong-buy” rating in a research report on Monday, November 18th. Finally, Needham & Company LLC lowered their target price on Penguin Solutions from $35.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $23.60.

Penguin Solutions Trading Up 0.9 %

The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of -19.59 and a beta of 1.74. The business’s 50-day moving average price is $17.49. The company has a debt-to-equity ratio of 1.65, a current ratio of 2.65 and a quick ratio of 2.19.

Penguin Solutions (NASDAQ:PENG) last announced its earnings results on Tuesday, October 15th. The company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.04). Penguin Solutions 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 analysts’ expectations of $325.00 million. As a group, research analysts forecast that Penguin Solutions will post 1.33 EPS for the current year.

Insider Activity at Penguin Solutions

In related news, insider Joseph Gates Clark sold 2,264 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $17.50, for a total value of $39,620.00. Following the transaction, the insider now owns 95,999 shares in the company, valued at approximately $1,679,982.50. This represents a 2.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jack A. Pacheco sold 13,334 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $20.05, for a total value of $267,346.70. Following the completion of the transaction, the chief operating officer now owns 235,960 shares in the company, valued at approximately $4,730,998. The trade was a 5.35 % decrease in their position. The disclosure for this sale can be found here. 2.40% of the stock is owned by company insiders.

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.