PENG (NASDAQ:PENG) Stock Price Down 1.4% – What’s Next?

PENG (NASDAQ:PENG)’s stock price was down 1.4% during mid-day trading on Wednesday . The company traded as low as $17.80 and last traded at $17.89. Approximately 142,646 shares changed hands during trading, a decline of 86% from the average daily volume of 1,044,159 shares. The stock had previously closed at $18.14.

Analyst Upgrades and Downgrades

PENG has been the subject of a number of recent analyst reports. JMP Securities began coverage on PENG in a research report on Monday, November 18th. They set an “outperform” rating and a $23.00 target price for the company. The Goldman Sachs Group initiated coverage on shares of PENG in a research report on Friday, November 1st. They set a “buy” rating and a $21.00 price objective for the company. Citizens Jmp raised PENG to a “strong-buy” rating in a research note on Monday, November 18th. Stifel Nicolaus reduced 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. Finally, Barclays lowered 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. 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.com, PENG has an average rating of “Buy” and a consensus price target of $23.60.

PENG Stock Down 0.8 %

The company has a quick ratio of 2.19, a current ratio of 2.65 and a debt-to-equity ratio of 1.65. The firm has a market cap of $958.69 million, a price-to-earnings ratio of -17.89 and a beta of 1.70.

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

Insider Activity

In other news, insider Joseph Gates Clark sold 2,264 shares of PENG 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 completion of the sale, the insider now directly owns 95,999 shares of the company’s stock, valued at approximately $1,679,982.50. The trade was a 2.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.40% of the company’s stock.

PENG Company Profile

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.