Penguin Solutions (NASDAQ:PENG) Stock Price Down 1.4% – Should You Sell?

Penguin Solutions (NASDAQ:PENG) shares traded down 1.4% during trading on Wednesday . The company traded as low as $19.60 and last traded at $19.73. 136,701 shares were traded during mid-day trading, a decline of 87% from the average session volume of 1,031,156 shares. The stock had previously closed at $20.00.

Analysts Set New Price Targets

A number of brokerages have issued reports on PENG. Barclays lowered 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. Stifel Nicolaus dropped their price target on shares of Penguin Solutions from $32.00 to $27.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. Citizens Jmp raised shares of Penguin Solutions to a “strong-buy” rating in a research report on Monday, November 18th. JMP Securities began coverage on shares of Penguin Solutions in a report on Monday, November 18th. They issued an “outperform” rating and a $23.00 target price for the company. Finally, The Goldman Sachs Group initiated coverage on shares of Penguin Solutions in a report on Friday, November 1st. They set a “buy” rating and a $21.00 price target on the stock. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $23.60.

Penguin Solutions Stock Performance

The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of -20.00 and a beta of 1.74. 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 business has a 50-day moving average of $17.55.

Penguin Solutions (NASDAQ:PENG) last issued its quarterly earnings data on Tuesday, October 15th. The company reported $0.23 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $311.15 million during the quarter, compared to the consensus estimate of $325.00 million. As a group, equities research analysts expect that Penguin Solutions will post 1.33 EPS for the current year.

Insider Activity

In related news, insider Joseph Gates Clark sold 2,264 shares of Penguin Solutions stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $17.50, for a total transaction of $39,620.00. Following the transaction, the insider now directly owns 95,999 shares in the company, valued at approximately $1,679,982.50. The trade was a 2.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jack A. Pacheco sold 13,334 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was 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 owns 235,960 shares of the company’s stock, valued at approximately $4,730,998. The trade was a 5.35 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.

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.