Penguin Solutions (NASDAQ:PENG) Receives Average Recommendation of “Buy” from Analysts

Shares of Penguin Solutions (NASDAQ:PENG) have earned an average rating of “Buy” from the eight analysts that are covering the stock, MarketBeat Ratings reports. Six investment analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $25.43.

PENG has been the subject of a number of research analyst reports. Citizens Jmp raised Penguin Solutions to a “strong-buy” rating in a research report on Monday, November 18th. The Goldman Sachs Group initiated coverage on Penguin Solutions in a research report on Friday, November 1st. They issued a “buy” rating and a $21.00 target price for the company. Rosenblatt Securities reissued a “buy” rating and issued a $27.00 target price on shares of Penguin Solutions in a research report on Thursday, December 19th. JMP Securities initiated coverage on Penguin Solutions in a research report on Monday, November 18th. They issued an “outperform” rating and a $23.00 target price for the company. Finally, Loop Capital initiated coverage on Penguin Solutions in a research report on Tuesday, January 7th. They issued a “buy” rating and a $30.00 target price for the company.

Penguin Solutions Stock Down 1.3 %

Shares of NASDAQ PENG opened at $20.53 on Thursday. The firm has a market cap of $1.09 billion, a PE ratio of -39.48 and a beta of 1.68. The company has a current ratio of 2.33, a quick ratio of 1.75 and a debt-to-equity ratio of 1.61. Penguin Solutions has a 52-week low of $14.87 and a 52-week high of $29.81. The firm has a 50-day moving average price of $19.88.

Insiders Place Their Bets

In other news, SVP Joseph Gates Clark sold 2,131 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $20.94, for a total value of $44,623.14. Following the completion of the sale, the senior vice president now directly owns 89,469 shares of the company’s stock, valued at $1,873,480.86. This trade represents a 2.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jack A. Pacheco sold 13,334 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $20.05, for a total value of $267,346.70. Following the completion of the sale, the chief operating officer now directly owns 235,960 shares of the company’s stock, valued at $4,730,998. This represents a 5.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,798 shares of company stock valued at $582,297. 2.60% of the stock is owned by company insiders.

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.