Penguin Solutions (NASDAQ:PENG) Raised to Strong-Buy at Loop Capital

Loop Capital upgraded shares of Penguin Solutions (NASDAQ:PENG) to a strong-buy rating in a research report report published on Monday,Zacks.com reports.

Several other research analysts have also commented on PENG. The Goldman Sachs Group started coverage on shares of Penguin Solutions in a research note on Friday, November 1st. They set a “buy” rating and a $21.00 price objective for the company. Needham & Company LLC cut their price target on shares of Penguin Solutions from $35.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Barclays decreased their price objective on shares of Penguin Solutions from $27.00 to $22.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Stifel Nicolaus reduced their price target on Penguin Solutions from $32.00 to $27.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Finally, JMP Securities began coverage on Penguin Solutions in a research report on Monday, November 18th. They issued an “outperform” rating and a $23.00 price objective on the stock. Six investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $25.00.

Penguin Solutions Stock Up 0.6 %

Shares of Penguin Solutions stock opened at $19.84 on Monday. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of -19.84 and a beta of 1.69. Penguin Solutions has a twelve month low of $14.87 and a twelve month high of $29.81. The firm’s 50-day moving average price is $18.42. The company has a current ratio of 2.65, a quick ratio of 2.19 and a debt-to-equity ratio of 1.65.

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

Insider Activity

In other news, COO Jack A. Pacheco sold 6,666 shares of Penguin Solutions stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $20.00, for a total transaction of $133,320.00. Following the completion of the sale, the chief operating officer now directly owns 235,960 shares in the company, valued at approximately $4,719,200. The trade was a 2.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through 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 shares were sold at an average price of $17.50, for a total value of $39,620.00. Following the completion of the transaction, the insider now directly owns 95,999 shares in the company, valued at approximately $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. Insiders have sold a total of 22,264 shares of company stock worth $440,287 over the last 90 days. 2.60% of the stock is currently owned by corporate insiders.

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.