PENG (NASDAQ:PENG) Stock Price Down 0.9% – Time to Sell?

PENG (NASDAQ:PENG)’s stock price traded down 0.9% on Wednesday . The stock traded as low as $16.95 and last traded at $16.95. 92,749 shares changed hands during trading, a decline of 91% from the average session volume of 1,049,200 shares. The stock had previously closed at $17.11.

Analysts Set New Price Targets

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

PENG Trading Down 1.8 %

The firm has a market cap of $895.80 million, a price-to-earnings ratio of -16.75 and a beta of 1.70. The company has a debt-to-equity ratio of 1.65, a quick ratio of 2.19 and a current ratio of 2.65.

PENG (NASDAQ:PENG) last announced its earnings results 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). The company had revenue of $311.15 million for the quarter, compared to analysts’ expectations of $325.00 million. PENG had a negative net margin of 4.48% and a positive return on equity of 8.05%. As a group, analysts anticipate that PENG will post 1.33 EPS for the current fiscal year.

Insider Buying and Selling at PENG

In related news, insider Joseph Gates Clark sold 2,264 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $17.50, for a total value of $39,620.00. Following the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.40% of the stock is owned by corporate insiders.

About PENG

SMART Global Holdings, Inc, a memory-focused company, engages in the designing and development of enterprise solutions in the United States, China, Europe, and internationally. It operates through Memory Solutions, Intelligent Platform Solutions, and LED Solutions segments. The company offers dynamic random access memory modules, solid-state and flash storage, and other advanced 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.