Penguin Solutions (NASDAQ:PENG) Shares Down 3.3% – What’s Next?

Penguin Solutions (NASDAQ:PENG) shares fell 3.3% during mid-day trading on Tuesday . The company traded as low as $20.03 and last traded at $20.13. 180,278 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 1,036,551 shares. The stock had previously closed at $20.82.

Analyst Upgrades and Downgrades

Several research firms have commented on PENG. Needham & Company LLC dropped their target price on Penguin Solutions from $35.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Barclays dropped their price objective on shares of Penguin Solutions from $27.00 to $22.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. JMP Securities began coverage on shares of Penguin Solutions in a report on Monday, November 18th. They set an “outperform” rating and a $23.00 target price on the stock. Citizens Jmp raised shares of Penguin Solutions to a “strong-buy” rating in a research note on Monday, November 18th. Finally, Stifel Nicolaus cut their price target on shares of Penguin Solutions from $32.00 to $27.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $23.60.

Penguin Solutions Stock Up 2.5 %

The firm has a market cap of $1.10 billion, a P/E ratio of -20.57 and a beta of 1.74. The company has a debt-to-equity ratio of 1.65, a current ratio of 2.65 and a quick ratio of 2.19.

Penguin Solutions (NASDAQ:PENG) last posted its quarterly earnings data on Tuesday, October 15th. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.04). Penguin Solutions had a negative net margin of 4.48% and a positive return on equity of 8.05%. The firm had revenue of $311.15 million during the quarter, compared to the consensus estimate of $325.00 million. On average, equities analysts predict that Penguin Solutions will post 1.33 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Jack A. Pacheco sold 13,334 shares of Penguin Solutions stock in a transaction on Monday, December 9th. The shares were sold at an average price of $20.05, for a total value of $267,346.70. Following the completion of the sale, the chief operating officer now owns 235,960 shares in the company, valued at $4,730,998. The trade was a 5.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Joseph Gates Clark sold 2,264 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $17.50, for a total transaction of $39,620.00. Following the transaction, the insider now owns 95,999 shares in the company, valued at $1,679,982.50. The trade was a 2.30 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.40% of the company’s stock.

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.