Penguin Solutions (NASDAQ:PENG – Get Free Report) COO Jack A. Pacheco sold 6,667 shares of the business’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $20.55, for a total value of $137,006.85. Following the sale, the chief operating officer now owns 231,548 shares of the company’s stock, valued at approximately $4,758,311.40. The trade was a 2.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Penguin Solutions Stock Up 4.1 %
Penguin Solutions stock traded up $0.84 during mid-day trading on Wednesday, hitting $21.34. 866,147 shares of the company’s stock were exchanged, compared to its average volume of 1,161,525. The company has a 50 day moving average price of $19.15. The company has a quick ratio of 1.75, a current ratio of 2.33 and a debt-to-equity ratio of 1.61. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of -41.04 and a beta of 1.69. Penguin Solutions has a fifty-two week low of $14.87 and a fifty-two week high of $29.81.
Analyst Upgrades and Downgrades
PENG has been the subject of several recent research reports. Barclays boosted their price objective on Penguin Solutions from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Thursday, January 9th. Needham & Company LLC increased their price objective on shares of Penguin Solutions from $25.00 to $27.00 and gave the company a “buy” rating in a report on Thursday, January 9th. The Goldman Sachs Group started coverage on shares of Penguin Solutions in a research note on Friday, November 1st. They issued a “buy” rating and a $21.00 price objective on the stock. Stifel Nicolaus dropped their target price 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. Finally, Loop Capital initiated coverage on Penguin Solutions in a research report on Tuesday, January 7th. They issued a “buy” rating and a $30.00 price target on the stock. Six investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $25.43.
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.
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