PENG (NASDAQ:PENG) Trading Down 1.4% – What’s Next?

Shares of PENG (NASDAQ:PENG) were down 1.4% during mid-day trading on Wednesday . The company traded as low as $17.80 and last traded at $17.89. Approximately 142,646 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 1,044,159 shares. The stock had previously closed at $18.14.

Analyst Ratings Changes

A number of equities analysts recently issued reports on PENG shares. Stifel Nicolaus decreased their price target on shares of PENG from $32.00 to $27.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Barclays decreased their price target on shares of PENG from $27.00 to $22.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. JMP Securities started coverage on shares of PENG in a research note on Monday, November 18th. They issued an “outperform” rating and a $23.00 price target for the company. Needham & Company LLC decreased their target price on shares of PENG from $35.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Finally, Citizens Jmp raised shares of PENG to a “strong-buy” rating in a research note on Monday, November 18th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $23.60.

PENG Price Performance

The company has a quick ratio of 2.19, a current ratio of 2.65 and a debt-to-equity ratio of 1.65. The stock has a market cap of $958.69 million, a P/E ratio of -17.99 and a beta of 1.70.

PENG (NASDAQ:PENG) last issued its quarterly earnings data 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 firm had revenue of $311.15 million for the quarter, compared to analysts’ expectations of $325.00 million. As a group, sell-side analysts predict 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.