PENG (NASDAQ:PENG) Stock Price Up 5% – Still a Buy?

PENG (NASDAQ:PENG) rose 5% during trading on Monday . The stock traded as high as $18.61 and last traded at $18.53. Approximately 220,425 shares traded hands during trading, a decline of 79% from the average daily volume of 1,043,326 shares. The stock had previously closed at $17.65.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PENG. Needham & Company LLC cut their target price on PENG from $35.00 to $25.00 and set a “buy” rating on the stock in a 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 price objective on the stock. Stifel Nicolaus decreased their target price 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. Barclays dropped their price target on shares of PENG from $27.00 to $22.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Finally, Citizens Jmp raised PENG to a “strong-buy” rating in a report on Monday, November 18th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $23.60.

PENG Trading Down 0.8 %

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

PENG (NASDAQ:PENG) last posted its quarterly earnings data on Tuesday, October 15th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.04). PENG had a negative net margin of 4.48% and a positive return on equity of 8.05%. The firm had revenue of $311.15 million during the quarter, compared to analysts’ expectations of $325.00 million. On average, research analysts predict that PENG will post 1.33 EPS for the current fiscal year.

Insider Buying and Selling

In other PENG news, insider Joseph Gates Clark sold 2,264 shares of PENG stock in a transaction dated 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 approximately $1,679,982.50. The trade was a 2.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 2.40% of the stock is currently owned by corporate 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.