Penguin Solutions (NASDAQ:PENG) COO Sells $267,346.70 in Stock

Penguin Solutions (NASDAQ:PENG) COO Jack A. Pacheco sold 13,334 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $20.05, for a total value of $267,346.70. Following the completion of the sale, the chief operating officer now directly owns 235,960 shares of the company’s stock, valued at $4,730,998. The trade was a 5.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Penguin Solutions Trading Up 2.5 %

NASDAQ PENG traded up $0.51 during trading hours on Wednesday, hitting $20.57. 524,776 shares of the stock were exchanged, compared to its average volume of 1,037,165. The company has a quick ratio of 2.19, a current ratio of 2.65 and a debt-to-equity ratio of 1.65. The stock has a market capitalization of $1.10 billion, a P/E ratio of -20.23 and a beta of 1.74. Penguin Solutions has a 12-month low of $14.87 and a 12-month high of $29.81.

Penguin Solutions (NASDAQ:PENG) last announced 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). Penguin Solutions 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 analyst estimates of $325.00 million. Equities research analysts expect that Penguin Solutions will post 1.33 EPS for the current year.

Wall Street Analyst Weigh In

PENG has been the subject of a number of research reports. Barclays reduced their price objective on Penguin Solutions from $27.00 to $22.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. The Goldman Sachs Group began coverage on shares of Penguin Solutions in a research report on Friday, November 1st. They set a “buy” rating and a $21.00 price objective on the stock. Stifel Nicolaus reduced their target price on shares of Penguin Solutions from $32.00 to $27.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. Needham & Company LLC lowered their price target on Penguin Solutions from $35.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Finally, JMP Securities started coverage on Penguin Solutions in a research note on Monday, November 18th. They set an “outperform” rating and a $23.00 price objective for the company. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $23.60.

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.