PENG (NASDAQ:PENG) Trading Down 0.8% – Here’s Why

PENG (NASDAQ:PENG)’s stock price fell 0.8% during mid-day trading on Thursday . The company traded as low as $17.65 and last traded at $17.99. 696,450 shares changed hands during trading, a decline of 33% from the average session volume of 1,046,647 shares. The stock had previously closed at $18.14.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PENG. Citizens Jmp upgraded PENG to a “strong-buy” rating in a report on Monday, November 18th. Stifel Nicolaus lowered their price objective on shares of PENG from $32.00 to $27.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. Needham & Company LLC reduced their target price on shares of PENG from $35.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. The Goldman Sachs Group assumed coverage on shares of PENG in a research note on Friday, November 1st. They issued a “buy” rating and a $21.00 price target for the company. Finally, JMP Securities initiated coverage on PENG in a research note on Monday, November 18th. They set an “outperform” rating and a $23.00 price objective on the stock. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, PENG has a consensus rating of “Buy” and a consensus target price of $23.60.

PENG Price Performance

The firm has a market capitalization of $958.69 million, a PE ratio of -17.99 and a beta of 1.70. The company has a quick ratio of 2.19, a current ratio of 2.65 and a debt-to-equity ratio of 1.65.

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

Insider Activity at PENG

In other news, insider Joseph Gates Clark sold 2,264 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 95,999 shares of the company’s stock, valued at approximately $1,679,982.50. The trade was a 2.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.40% of the stock is owned by insiders.

About PENG

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.