Penguin Solutions (NASDAQ:PENG) Shares Down 0.1% – Should You Sell?

Penguin Solutions (NASDAQ:PENG)’s stock price dropped 0.1% during mid-day trading on Tuesday . The stock traded as low as $19.28 and last traded at $19.59. Approximately 127,531 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 1,032,062 shares. The stock had previously closed at $19.61.

Wall Street Analyst Weigh In

PENG has been the topic of several research analyst reports. The Goldman Sachs Group initiated coverage on Penguin Solutions in a research note on Friday, November 1st. They issued a “buy” rating and a $21.00 price objective on the stock. Citizens Jmp upgraded Penguin Solutions to a “strong-buy” rating in a research note on Monday, November 18th. Barclays dropped their price objective on Penguin Solutions from $27.00 to $22.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Needham & Company LLC decreased their target price on Penguin Solutions from $35.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. Finally, Stifel Nicolaus decreased their target price on Penguin Solutions from $32.00 to $27.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $23.60.

Penguin Solutions Price Performance

The company’s 50-day moving average is $17.49. The company has a current ratio of 2.65, a quick ratio of 2.19 and a debt-to-equity ratio of 1.65. The stock has a market capitalization of $1.05 billion, a P/E ratio of -19.59 and a beta of 1.74.

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

Insiders Place Their Bets

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