Loop Capital Begins Coverage on Penguin Solutions (NASDAQ:PENG)

Equities research analysts at Loop Capital initiated coverage on shares of Penguin Solutions (NASDAQ:PENG) in a research note issued to investors on Tuesday,Benzinga reports. The firm set a “buy” rating and a $30.00 price target on the stock. Loop Capital’s price objective indicates a potential upside of 52.05% from the stock’s previous close.

A number of other research analysts have also recently issued reports on the stock. Stifel Nicolaus decreased their price objective on shares of Penguin Solutions from $32.00 to $27.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. Rosenblatt Securities reiterated a “buy” rating and issued a $27.00 price target on shares of Penguin Solutions in a research note on Thursday, December 19th. Barclays lowered their price target on Penguin Solutions from $27.00 to $22.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. JMP Securities initiated coverage on Penguin Solutions in a research note on Monday, November 18th. They issued an “outperform” rating and a $23.00 price objective on the stock. Finally, Citizens Jmp raised Penguin Solutions to a “strong-buy” rating in a research note on Monday, November 18th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $25.00.

Penguin Solutions Stock Performance

NASDAQ:PENG opened at $19.73 on Tuesday. 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 has a fifty-two week low of $14.87 and a fifty-two week high of $29.81. The company has a market cap of $1.05 billion, a P/E ratio of -19.73 and a beta of 1.69. The firm’s fifty day moving average is $18.34.

Penguin Solutions (NASDAQ:PENG) last posted its quarterly earnings data on Tuesday, October 15th. The company reported $0.23 earnings per share 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 firm had revenue of $311.15 million for the quarter, compared to the consensus estimate of $325.00 million. Research analysts predict that Penguin Solutions will post 1.33 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Joseph Gates Clark sold 2,264 shares of the firm’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $17.50, for a total transaction of $39,620.00. Following the completion of the transaction, the insider now owns 95,999 shares of the company’s stock, valued at approximately $1,679,982.50. This trade represents a 2.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jack A. Pacheco sold 6,666 shares of Penguin Solutions stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $20.00, for a total transaction of $133,320.00. Following the transaction, the chief operating officer now owns 235,960 shares in the company, valued at approximately $4,719,200. This trade represents a 2.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,264 shares of company stock valued at $440,287 in the last 90 days. Corporate insiders own 2.60% 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.