Penguin Solutions (NASDAQ:PENG) Stock Price Up 0.8% – Time to Buy?

Penguin Solutions (NASDAQ:PENG)’s stock price was up 0.8% on Wednesday . The stock traded as high as $20.54 and last traded at $20.23. Approximately 104,265 shares traded hands during trading, a decline of 90% from the average daily volume of 1,036,045 shares. The stock had previously closed at $20.06.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on 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 target price on the stock. Citizens Jmp upgraded Penguin Solutions to a “strong-buy” rating in a research report on Monday, November 18th. Barclays cut their target price on shares of Penguin Solutions from $27.00 to $22.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. The Goldman Sachs Group assumed coverage on shares of Penguin Solutions in a report on Friday, November 1st. They issued a “buy” rating and a $21.00 target price for the company. Finally, Stifel Nicolaus dropped their target price on Penguin Solutions from $32.00 to $27.00 and set a “buy” rating on the stock in a research report 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 company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $23.60.

Penguin Solutions Stock Up 0.5 %

The company has a current ratio of 2.65, a quick ratio of 2.19 and a debt-to-equity ratio of 1.65. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of -19.79 and a beta of 1.74. The stock has a 50 day simple moving average of $17.38.

Penguin Solutions (NASDAQ:PENG) last issued its quarterly earnings data 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). The firm had revenue of $311.15 million during the quarter, compared to analysts’ expectations of $325.00 million. Penguin Solutions had a positive return on equity of 8.05% and a negative net margin of 4.48%. Equities analysts forecast that Penguin Solutions will post 1.33 earnings per share for the current year.

Insider Buying and Selling at Penguin Solutions

In other Penguin Solutions news, COO Jack A. Pacheco sold 13,334 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $20.05, for a total transaction of $267,346.70. Following the transaction, the chief operating officer now owns 235,960 shares in the company, valued at approximately $4,730,998. This represents a 5.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Joseph Gates Clark sold 2,264 shares of the business’s stock in a transaction that occurred 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.40% of the company’s stock.

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.