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

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

Analysts Set New Price Targets

A number of research firms recently weighed in on PENG. The Goldman Sachs Group initiated coverage on shares of PENG in a report on Friday, November 1st. They set a “buy” rating and a $21.00 target price on the stock. Needham & Company LLC lowered 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. Barclays reduced their target price on PENG from $27.00 to $22.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. JMP Securities started coverage on PENG in a report on Monday, November 18th. They issued an “outperform” rating and a $23.00 price target on the stock. 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. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $23.60.

PENG Stock Up 2.4 %

The company has a quick ratio of 2.19, a current ratio of 2.65 and a debt-to-equity ratio of 1.65. The firm has a market capitalization of $963.48 million, a PE ratio of -18.53 and a beta of 1.70.

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

Insider Buying and Selling

In other news, insider Joseph Gates Clark sold 2,264 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 95,999 shares in the company, valued at approximately $1,679,982.50. This trade represents a 2.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.40% of the stock is owned by corporate insiders.

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.