Penguin Solutions (NASDAQ:PENG) COO Sells $147,607.38 in Stock

Penguin Solutions (NASDAQ:PENG) COO Jack A. Pacheco sold 6,667 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $22.14, for a total value of $147,607.38. Following the completion of the transaction, the chief operating officer now owns 231,548 shares in the company, valued at approximately $5,126,472.72. This trade represents a 2.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Penguin Solutions Trading Down 3.5 %

Shares of PENG stock opened at $21.35 on Friday. The business’s 50 day moving average is $20.10. The company has a current ratio of 2.33, a quick ratio of 1.75 and a debt-to-equity ratio of 1.61. Penguin Solutions has a 1 year low of $14.87 and a 1 year high of $29.81.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on PENG shares. JMP Securities began coverage on Penguin Solutions in a research note on Monday, November 18th. They issued an “outperform” rating and a $23.00 target price for the company. Rosenblatt Securities reiterated a “buy” rating and issued a $27.00 target price on shares of Penguin Solutions in a research report on Thursday, December 19th. Needham & Company LLC raised their price target on Penguin Solutions from $25.00 to $27.00 and gave the stock a “buy” rating in a report on Thursday, January 9th. Loop Capital assumed coverage on shares of Penguin Solutions in a report on Tuesday, January 7th. They issued a “buy” rating and a $30.00 price objective for the company. Finally, The Goldman Sachs Group assumed coverage on shares of Penguin Solutions in a report on Friday, November 1st. They issued a “buy” rating and a $21.00 price target for the company. Six research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $25.43.

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.