PENG (NASDAQ:PENG) Trading Down 0.8% – Should You Sell?

PENG (NASDAQ:PENG)’s stock price dropped 0.8% on Tuesday . The company traded as low as $17.86 and last traded at $17.93. Approximately 132,295 shares changed hands during trading, a decline of 87% from the average daily volume of 1,043,123 shares. The stock had previously closed at $18.08.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PENG. Stifel Nicolaus dropped their price target on PENG from $32.00 to $27.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. JMP Securities started coverage on shares of PENG in a research report on Monday, November 18th. They issued an “outperform” rating and a $23.00 target price for the company. Barclays reduced their price target on shares of PENG from $27.00 to $22.00 and set an “overweight” rating on the stock 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 set a “buy” rating and a $21.00 price objective for the company. Finally, Citizens Jmp raised PENG to a “strong-buy” rating in a report on Monday, November 18th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, PENG has an average rating of “Buy” and an average price target of $23.60.

PENG Price Performance

The stock has a market cap of $958.69 million, a price-to-earnings ratio of -17.99 and a beta of 1.70. The company has a current ratio of 2.65, a quick ratio of 2.19 and a debt-to-equity ratio of 1.65.

PENG (NASDAQ:PENG) last announced its quarterly earnings results on Tuesday, October 15th. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.04). The firm had revenue of $311.15 million during the quarter, compared to the consensus estimate of $325.00 million. PENG had a negative net margin of 4.48% and a positive return on equity of 8.05%. Equities research analysts expect 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 the firm’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 completion of the transaction, the insider now 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.