Penguin Solutions (NASDAQ:PENG) Upgraded by Loop Capital to “Strong-Buy” Rating

Penguin Solutions (NASDAQ:PENG) was upgraded by equities researchers at Loop Capital to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

Several other research analysts also recently weighed in on the stock. Stifel Nicolaus reduced their price target on shares of Penguin Solutions from $32.00 to $27.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Barclays decreased their target price on Penguin Solutions from $27.00 to $22.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Citizens Jmp upgraded Penguin Solutions to a “strong-buy” rating in a research report on Monday, November 18th. JMP Securities initiated coverage on Penguin Solutions in a report on Monday, November 18th. They issued an “outperform” rating and a $23.00 price objective on the stock. Finally, Needham & Company LLC dropped their target price on shares of Penguin Solutions from $35.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. Six investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Penguin Solutions presently has an average rating of “Buy” and a consensus price target of $25.00.

Penguin Solutions Price Performance

Penguin Solutions stock opened at $19.84 on Monday. The company has a debt-to-equity ratio of 1.65, a current ratio of 2.65 and a quick ratio of 2.19. The stock has a market capitalization of $1.06 billion, a PE ratio of -19.84 and a beta of 1.69. The firm has a 50 day simple moving average of $18.42. Penguin Solutions has a 12 month low of $14.87 and a 12 month high of $29.81.

Penguin Solutions (NASDAQ:PENG) last issued its quarterly earnings results on Tuesday, October 15th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.04). The company 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%. On average, equities research analysts anticipate that Penguin Solutions will post 1.33 EPS for the current fiscal year.

Insider Buying and Selling at Penguin Solutions

In other news, COO Jack A. Pacheco sold 13,334 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $20.05, for a total value of $267,346.70. Following the transaction, the chief operating officer now owns 235,960 shares of the company’s stock, valued at $4,730,998. This represents a 5.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Joseph Gates Clark sold 2,264 shares of the firm’s 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 directly owns 95,999 shares of the company’s stock, valued at $1,679,982.50. The trade was a 2.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,264 shares of company stock worth $440,287 in the last ninety days. 2.60% of the stock is owned by 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.