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

PENG (NASDAQ:PENG) fell 0.8% on Friday . The stock traded as low as $17.65 and last traded at $17.99. 696,450 shares changed hands during trading, a decline of 25% from the average session volume of 927,830 shares. The stock had previously closed at $18.14.

Wall Street Analyst Weigh In

PENG has been the subject of several research analyst reports. JMP Securities began coverage on PENG in a report on Monday, November 18th. They issued an “outperform” rating and a $23.00 price objective for the company. The Goldman Sachs Group assumed coverage on PENG in a research note on Friday, November 1st. They set a “buy” rating and a $21.00 price target for the company. Needham & Company LLC dropped their price objective on shares of PENG from $35.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Citizens Jmp raised shares of PENG to a “strong-buy” rating in a report on Monday, November 18th. Finally, Stifel Nicolaus reduced their price objective on PENG from $32.00 to $27.00 and set a “buy” rating for the company in a research note 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’s stock. According to data from MarketBeat.com, PENG currently has a consensus rating of “Buy” and an average target price of $23.60.

PENG Stock Performance

The stock has a market cap of $966.68 million, a PE ratio of -17.99 and a beta of 1.70. The company has a quick ratio of 2.19, a current ratio of 2.65 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 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $325.00 million. As a group, equities research analysts predict that PENG will post 1.33 EPS for the current year.

Insiders Place Their Bets

In other PENG news, insider Joseph Gates Clark sold 2,264 shares of the company’s 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 transaction, the insider now directly owns 95,999 shares in the company, valued at $1,679,982.50. This represents a 2.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.40% of the stock is owned by 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.