Penguin Solutions (NASDAQ:PENG) Stock Price Up 2.3% – Should You Buy?

Penguin Solutions (NASDAQ:PENG) shares shot up 2.3% on Tuesday . The stock traded as high as $19.35 and last traded at $19.33. 284,235 shares changed hands during trading, a decline of 73% from the average session volume of 1,038,775 shares. The stock had previously closed at $18.89.

Analyst Ratings Changes

A number of equities research analysts have weighed in on PENG shares. JMP Securities began coverage on Penguin Solutions in a report on Monday, November 18th. They issued an “outperform” rating and a $23.00 target price on the stock. The Goldman Sachs Group began coverage on shares of Penguin Solutions in a research report on Friday, November 1st. They issued a “buy” rating and a $21.00 target price on the stock. Citizens Jmp raised Penguin Solutions to a “strong-buy” rating in a report on Monday, November 18th. Barclays lowered their target price on Penguin Solutions from $27.00 to $22.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Finally, Needham & Company LLC cut their price target on Penguin Solutions from $35.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $23.60.

Penguin Solutions Stock Performance

The company has a debt-to-equity ratio of 1.65, a current ratio of 2.65 and a quick ratio of 2.19. The stock has a market capitalization of $1.03 billion, a PE ratio of -19.42 and a beta of 1.74.

Penguin Solutions (NASDAQ:PENG) last released 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). Penguin Solutions had a negative net margin of 4.48% and a positive return on equity of 8.05%. The firm had revenue of $311.15 million during the quarter, compared to analyst estimates of $325.00 million. On average, research analysts predict that Penguin Solutions will post 1.33 EPS for the current fiscal year.

Insider Transactions at Penguin Solutions

In other Penguin Solutions 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 value of $39,620.00. Following the completion of the sale, the insider now directly 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.40% of the company’s stock.

Penguin Solutions 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.