Penguin Solutions (NASDAQ:PENG) Upgraded at Weiss Ratings

Penguin Solutions (NASDAQ:PENG) was upgraded by equities researchers at Weiss Ratings from a “sell (d-)” rating to a “hold (c-)” rating in a research report issued to clients and investors on Saturday,Weiss Ratings reports.

Other analysts also recently issued research reports about the stock. JPMorgan Chase & Co. increased their price objective on shares of Penguin Solutions from $21.00 to $24.00 and gave the company a “neutral” rating in a report on Thursday, July 17th. Rosenblatt Securities reiterated a “buy” rating and issued a $30.00 price objective on shares of Penguin Solutions in a report on Tuesday, October 14th. Wall Street Zen downgraded shares of Penguin Solutions from a “buy” rating to a “hold” rating in a report on Saturday. Loop Capital increased their price objective on shares of Penguin Solutions from $30.00 to $35.00 and gave the company a “buy” rating in a report on Monday, July 14th. Finally, Zacks Research downgraded shares of Penguin Solutions from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $28.00.

Penguin Solutions Trading Up 3.1%

Shares of Penguin Solutions stock opened at $22.40 on Friday. The firm has a market capitalization of $1.18 billion, a PE ratio of 77.24 and a beta of 2.20. Penguin Solutions has a twelve month low of $14.20 and a twelve month high of $29.80. The firm’s 50-day moving average price is $24.76 and its 200 day moving average price is $21.75. The company has a current ratio of 2.25, a quick ratio of 1.71 and a debt-to-equity ratio of 1.09.

Institutional Investors Weigh In On Penguin Solutions

Several institutional investors have recently modified their holdings of PENG. Vanguard Group Inc. purchased a new stake in shares of Penguin Solutions during the 1st quarter worth $111,458,000. Alliancebernstein L.P. purchased a new stake in shares of Penguin Solutions during the 1st quarter worth $28,919,000. Paradigm Capital Management Inc. NY purchased a new stake in shares of Penguin Solutions during the 1st quarter worth $19,545,000. Think Investments LP purchased a new stake in Penguin Solutions in the first quarter valued at $15,713,000. Finally, Charles Schwab Investment Management Inc. purchased a new stake in Penguin Solutions in the first quarter valued at $14,786,000.

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.