Penguin Solutions (NASDAQ:PENG) SVP Sells $44,623.14 in Stock

Penguin Solutions (NASDAQ:PENG) SVP Joseph Gates Clark sold 2,131 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $20.94, for a total transaction of $44,623.14. Following the completion of the sale, the senior vice president now directly owns 89,469 shares in the company, valued at approximately $1,873,480.86. This trade represents a 2.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Joseph Gates Clark also recently made the following trade(s):

• On Thursday, November 14th, Joseph Gates Clark sold 2,264 shares of Penguin Solutions stock. The shares were sold at an average price of $17.50, for a total transaction of $39,620.00.

Penguin Solutions Stock Performance

Shares of Penguin Solutions stock opened at $18.86 on Tuesday. The stock’s fifty day simple moving average is $19.35. Penguin Solutions has a 1 year low of $14.87 and a 1 year high of $29.81. The company has a debt-to-equity ratio of 1.61, a current ratio of 2.33 and a quick ratio of 1.75. The stock has a market cap of $1.01 billion, a P/E ratio of -36.27 and a beta of 1.69.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. 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 target on the stock. Barclays boosted their target price on Penguin Solutions from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Thursday, January 9th. Citizens Jmp upgraded shares of Penguin Solutions to a “strong-buy” rating in a research note on Monday, November 18th. Rosenblatt Securities restated a “buy” rating and issued a $27.00 target price on shares of Penguin Solutions in a report on Thursday, December 19th. Finally, Stifel Nicolaus cut their price target 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. Six equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Penguin Solutions currently has an average rating of “Buy” and an average target price of $25.43.

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.