Penguin Solutions (PENG) Projected to Post Earnings on Wednesday

Penguin Solutions (NASDAQ:PENG) is anticipated to post its quarterly earnings results after the market closes on Wednesday, April 2nd. Analysts expect Penguin Solutions to post earnings of $0.33 per share and revenue of $344.44 million for the quarter.

Penguin Solutions Stock Performance

NASDAQ PENG opened at $19.31 on Wednesday. Penguin Solutions has a one year low of $14.87 and a one year high of $22.67. The company has a quick ratio of 1.75, a current ratio of 2.33 and a debt-to-equity ratio of 1.61. The stock has a market cap of $1.03 billion, a P/E ratio of -37.13 and a beta of 1.70. The firm’s 50-day simple moving average is $19.86.

Insider Buying and Selling

In other Penguin Solutions news, COO Jack A. Pacheco sold 6,666 shares of the company’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $20.00, for a total value of $133,320.00. Following the sale, the chief operating officer now directly owns 235,960 shares of the company’s stock, valued at approximately $4,719,200. This represents a 2.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Joseph Gates Clark sold 2,131 shares of the company’s stock in a transaction dated 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 owns 89,469 shares in the company, valued at $1,873,480.86. The trade was a 2.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,131 shares of company stock worth $462,557 in the last 90 days. Insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Needham & Company LLC upped their target price on Penguin Solutions from $25.00 to $27.00 and gave the stock a “buy” rating in a report on Thursday, January 9th. Barclays raised their target price on shares of Penguin Solutions from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Thursday, January 9th. Loop Capital assumed coverage on Penguin Solutions in a research report on Tuesday, January 7th. They set a “buy” rating and a $30.00 price target on the stock. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $27.00 price objective on shares of Penguin Solutions in a research report on Thursday, December 19th. Six investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Penguin Solutions presently has an average rating of “Buy” and an average price target of $25.43.

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.