PENG (NASDAQ:PENG) Trading Up 2.3% – Should You Buy?

PENG (NASDAQ:PENG) shot up 2.3% during mid-day trading on Monday . The company traded as high as $18.74 and last traded at $18.56. 114,859 shares changed hands during trading, a decline of 89% from the average session volume of 1,039,517 shares. The stock had previously closed at $18.14.

Wall Street Analyst Weigh In

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

PENG Stock Up 3.6 %

The company has a current ratio of 2.65, a quick ratio of 2.19 and a debt-to-equity ratio of 1.65. The firm has a market capitalization of $1.00 billion, a P/E ratio of -18.56 and a beta of 1.70.

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

Insiders Place Their Bets

In other PENG news, insider Joseph Gates Clark sold 2,264 shares of PENG stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $17.50, for a total value of $39,620.00. Following the completion of the sale, the insider now owns 95,999 shares of the company’s stock, valued at approximately $1,679,982.50. This trade represents a 2.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.40% of the company’s stock.

PENG Company Profile

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.