Penguin Solutions (NASDAQ:PENG) Stock Price Up 0.1% – Should You Buy?

Shares of Penguin Solutions (NASDAQ:PENG) traded up 0.1% on Friday . The company traded as high as $20.32 and last traded at $19.79. 177,803 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 1,032,714 shares. The stock had previously closed at $19.78.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. JMP Securities assumed coverage on shares of Penguin Solutions in a report on Monday, November 18th. They set an “outperform” rating and a $23.00 target price on the stock. Stifel Nicolaus dropped their price objective on 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 Penguin Solutions to a “strong-buy” rating in a research report on Monday, November 18th. The Goldman Sachs Group started coverage on Penguin Solutions in a report on Friday, November 1st. They set a “buy” rating and a $21.00 target price on the stock. Finally, Needham & Company LLC cut their price target on Penguin Solutions from $35.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $23.60.

Penguin Solutions Trading Down 0.3 %

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 cap of $1.05 billion, a price-to-earnings ratio of -19.79 and a beta of 1.74. The business’s 50 day simple moving average is $17.38.

Penguin Solutions (NASDAQ:PENG) last posted 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 business had revenue of $311.15 million during the quarter, compared to the consensus estimate of $325.00 million. Penguin Solutions had a negative net margin of 4.48% and a positive return on equity of 8.05%. As a group, sell-side analysts forecast that Penguin Solutions will post 1.33 EPS for the current fiscal 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 directly owns 235,960 shares in the company, valued at approximately $4,730,998. This represents a 5.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joseph Gates Clark sold 2,264 shares of Penguin Solutions stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $17.50, for a total transaction of $39,620.00. Following the completion of the sale, the insider now directly owns 95,999 shares of the company’s stock, valued at approximately $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.