PENG (NASDAQ:PENG) Trading Up 1.4% – What’s Next?

PENG (NASDAQ:PENG)’s stock price traded up 1.4% during trading on Thursday . The stock traded as high as $17.55 and last traded at $17.19. 76,679 shares were traded during mid-day trading, a decline of 93% from the average session volume of 1,046,611 shares. The stock had previously closed at $16.95.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Needham & Company LLC lowered their price target on shares of PENG from $35.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Stifel Nicolaus lowered their price target on shares of PENG from $32.00 to $27.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Barclays decreased their price objective on shares of PENG from $27.00 to $22.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. The Goldman Sachs Group began coverage on shares of PENG in a research report on Friday, November 1st. They issued a “buy” rating and a $21.00 price objective for the company. Finally, Citizens Jmp upgraded shares of PENG to a “strong-buy” rating in a research report on Monday, November 18th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $23.60.

PENG Stock Performance

The company has a current ratio of 2.65, a quick ratio of 2.19 and a debt-to-equity ratio of 1.65. The stock has a market capitalization of $940.57 million, a price-to-earnings ratio of -17.65 and a beta of 1.70.

PENG (NASDAQ:PENG) last released its quarterly earnings results on Tuesday, October 15th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.04). PENG had a positive return on equity of 8.05% and a negative net margin of 4.48%. The company had revenue of $311.15 million for the quarter, compared to analyst estimates of $325.00 million. Analysts forecast that PENG will post 1.33 earnings per share for the current year.

Insider Activity at PENG

In related news, insider Joseph Gates Clark sold 2,264 shares of the company’s stock in a transaction dated 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 owns 95,999 shares of the company’s stock, valued at approximately $1,679,982.50. This represents a 2.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.