Penguin Solutions (NASDAQ:PENG) Upgraded by Loop Capital to “Strong-Buy” Rating

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

PENG has been the subject of a number of other reports. JMP Securities started coverage on shares of Penguin Solutions in a report on Monday, November 18th. They issued an “outperform” rating and a $23.00 price target for the company. Stifel Nicolaus decreased their target price on Penguin Solutions from $32.00 to $27.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $27.00 price target on shares of Penguin Solutions in a report on Thursday, December 19th. Needham & Company LLC decreased their price objective on Penguin Solutions from $35.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Finally, Citizens Jmp upgraded Penguin Solutions to a “strong-buy” rating in a research note on Monday, November 18th. Six analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $25.00.

Penguin Solutions Stock Performance

NASDAQ PENG opened at $19.13 on Monday. The business’s 50-day simple moving average is $18.42. Penguin Solutions has a twelve month low of $14.87 and a twelve month high of $29.81. The firm has a market cap of $1.02 billion, a PE ratio of -19.13 and a beta of 1.69. The company has a quick ratio of 2.19, a current ratio of 2.65 and a debt-to-equity ratio of 1.65.

Penguin Solutions (NASDAQ:PENG) last issued its quarterly earnings results on Tuesday, October 15th. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.04). The business had revenue of $311.15 million for 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%. As a group, equities research analysts forecast that Penguin Solutions will post 1.33 EPS for the current fiscal year.

Insider Buying and Selling

In other news, COO Jack A. Pacheco sold 13,334 shares of the stock in a transaction that occurred 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 completion of the transaction, the insider now owns 95,999 shares of the company’s stock, valued at $1,679,982.50. This trade represents a 2.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,264 shares of company stock worth $440,287 in the last three months. Insiders own 2.60% of the company’s stock.

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.