Penguin Solutions (NASDAQ:PENG) Research Coverage Started at Loop Capital

Loop Capital started coverage on shares of Penguin Solutions (NASDAQ:PENG) in a report released on Tuesday, MarketBeat reports. The brokerage issued a buy rating and a $30.00 price target on the stock.

Several other research firms have also recently issued reports on PENG. Rosenblatt Securities reiterated a “buy” rating and issued a $27.00 price objective on shares of Penguin Solutions in a research report on Thursday, December 19th. Needham & Company LLC cut their price target on shares of Penguin Solutions from $35.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. JMP Securities started coverage on shares of Penguin Solutions in a research report on Monday, November 18th. They set an “outperform” rating and a $23.00 target price on the stock. Barclays reduced their price target on shares of Penguin Solutions from $27.00 to $22.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Finally, Citizens Jmp upgraded Penguin Solutions to a “strong-buy” rating in a report on Monday, November 18th. Six equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Penguin Solutions presently has an average rating of “Buy” and an average target price of $25.43.

Penguin Solutions Stock Performance

PENG stock opened at $19.13 on Tuesday. Penguin Solutions has a one year low of $14.87 and a one year high of $29.81. The company has a debt-to-equity ratio of 1.65, a current ratio of 2.65 and a quick ratio of 2.19. The stock has a fifty day moving average price of $18.49. The firm has a market cap of $1.02 billion, a PE ratio of -19.13 and a beta of 1.69.

Penguin Solutions (NASDAQ:PENG) last announced 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 analyst estimates of $325.00 million. Equities analysts forecast that Penguin Solutions will post 1.33 earnings per share for the current fiscal year.

Insider Activity at Penguin Solutions

In other Penguin Solutions news, insider Joseph Gates Clark sold 2,264 shares of the stock in a transaction on Thursday, November 14th. The stock was 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 of the company’s stock, valued at $1,679,982.50. This represents a 2.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, 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 directly owns 235,960 shares of the company’s stock, valued at approximately $4,730,998. This represents a 5.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,264 shares of company stock valued at $440,287 over the last quarter. Insiders own 2.60% of the company’s stock.

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.