PENG (NASDAQ:PENG) Trading Down 0.8% – Should You Sell?

PENG (NASDAQ:PENG) shares were down 0.8% during trading on Thursday . The stock traded as low as $17.65 and last traded at $17.99. Approximately 696,450 shares changed hands during trading, a decline of 33% from the average daily volume of 1,046,647 shares. The stock had previously closed at $18.14.

Wall Street Analysts Forecast Growth

PENG has been the topic of several research reports. Barclays reduced their price objective on PENG from $27.00 to $22.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Stifel Nicolaus decreased their price target on PENG from $32.00 to $27.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Citizens Jmp upgraded shares of PENG to a “strong-buy” rating in a research report on Monday, November 18th. Needham & Company LLC reduced their target price on shares of PENG from $35.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. Finally, JMP Securities started coverage on shares of PENG in a research note on Monday, November 18th. They set an “outperform” rating and a $23.00 price target for the company. 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.com, the company currently has a consensus rating of “Buy” and an average target price of $23.60.

PENG Price Performance

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 debt-to-equity ratio of 1.65, a quick ratio of 2.19 and a current ratio of 2.65.

PENG (NASDAQ:PENG) last posted its earnings results on Tuesday, October 15th. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $325.00 million. Research analysts predict that PENG will post 1.33 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Joseph Gates Clark sold 2,264 shares of PENG 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.40% of the company’s stock.

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.