PENG (NASDAQ:PENG) Shares Up 5% – Here’s What Happened

Shares of PENG (NASDAQ:PENG) rose 5% during mid-day trading on Monday . The company traded as high as $18.61 and last traded at $18.53. Approximately 220,425 shares traded hands during trading, a decline of 79% from the average daily volume of 1,043,326 shares. The stock had previously closed at $17.65.

Wall Street Analysts Forecast Growth

PENG has been the topic of a number of research analyst reports. Stifel Nicolaus cut their target price on shares of PENG from $32.00 to $27.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. Needham & Company LLC reduced their price objective on PENG from $35.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. Citizens Jmp raised PENG to a “strong-buy” rating in a report on Monday, November 18th. JMP Securities initiated coverage on PENG in a research note on Monday, November 18th. They set an “outperform” rating and a $23.00 price target on the stock. Finally, The Goldman Sachs Group began coverage on PENG in a research note on Friday, November 1st. They issued a “buy” rating and a $21.00 price objective for the company. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, PENG currently has an average rating of “Buy” and an average price target of $23.60.

PENG Trading Down 0.8 %

The firm has a market capitalization of $958.69 million, a P/E ratio of -17.99 and a beta of 1.70. The company has a quick ratio of 2.19, a current ratio of 2.65 and a debt-to-equity ratio of 1.65.

PENG (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). The company had revenue of $311.15 million during the quarter, compared to analyst estimates of $325.00 million. PENG had a positive return on equity of 8.05% and a negative net margin of 4.48%. Equities analysts anticipate that PENG will post 1.33 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Joseph Gates Clark sold 2,264 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $17.50, for a total value of $39,620.00. Following the transaction, the insider now directly owns 95,999 shares of the company’s stock, valued at $1,679,982.50. The trade was a 2.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 2.40% of the company’s stock.

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.