Jack A. Pacheco Sells 6,667 Shares of Penguin Solutions (NASDAQ:PENG) Stock

Penguin Solutions (NASDAQ:PENGGet 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.

Read Our Latest Stock Analysis on Penguin Solutions

About Penguin Solutions

(Get Free Report)

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.

Further Reading

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