Penguin Solutions (NASDAQ:PENG) Upgraded at Loop Capital

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

PENG has been the topic of several other reports. JMP Securities began coverage on shares of Penguin Solutions in a research report on Monday, November 18th. They set an “outperform” rating and a $23.00 price objective on the stock. Barclays lowered their price target on Penguin Solutions from $27.00 to $22.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. The Goldman Sachs Group started coverage on Penguin Solutions in a research report on Friday, November 1st. They set a “buy” rating and a $21.00 price objective for the company. Rosenblatt Securities reiterated a “buy” rating and issued a $27.00 target price on shares of Penguin Solutions in a report on Thursday, December 19th. Finally, Needham & Company LLC reduced their price target on shares of Penguin Solutions from $35.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Six equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $25.00.

Penguin Solutions Stock Down 3.6 %

NASDAQ:PENG opened at $19.13 on Monday. The company has a fifty day moving average of $18.42. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of -19.13 and a beta of 1.69. 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 1.65, a current ratio of 2.65 and a quick ratio of 2.19.

Penguin Solutions (NASDAQ:PENG) last announced its 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). The firm had revenue of $311.15 million during the quarter, compared to analyst estimates of $325.00 million. Penguin Solutions had a positive return on equity of 8.05% and a negative net margin of 4.48%. Equities analysts predict that Penguin Solutions will post 1.33 earnings per share for the current year.

Insider Activity at Penguin Solutions

In other news, COO Jack A. Pacheco sold 13,334 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $20.05, for a total transaction of $267,346.70. Following the transaction, the chief operating officer now owns 235,960 shares in the company, valued at approximately $4,730,998. This trade represents a 5.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joseph Gates Clark sold 2,264 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $17.50, for a total transaction of $39,620.00. Following the completion of the sale, the insider now owns 95,999 shares of the company’s stock, valued at $1,679,982.50. This represents a 2.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,264 shares of company stock valued at $440,287. 2.60% of the stock is currently owned by corporate insiders.

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.