Penguin Solutions (NASDAQ:PENG) Stock Price Down 0.9% – Time to Sell?

Penguin Solutions (NASDAQ:PENG)’s share price fell 0.9% during mid-day trading on Thursday . The stock traded as low as $19.35 and last traded at $19.49. 126,109 shares traded hands during trading, a decline of 88% from the average session volume of 1,037,165 shares. The stock had previously closed at $19.66.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Stifel Nicolaus decreased their target price on shares of Penguin Solutions from $32.00 to $27.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Citizens Jmp upgraded Penguin Solutions to a “strong-buy” rating in a research note on Monday, November 18th. JMP Securities began coverage on Penguin Solutions in a report on Monday, November 18th. They issued an “outperform” rating and a $23.00 price target for the company. Barclays cut their target price on shares of Penguin Solutions from $27.00 to $22.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Finally, The Goldman Sachs Group assumed coverage on shares of Penguin Solutions in a research report on Friday, November 1st. They issued a “buy” rating and a $21.00 price objective for the company. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $23.60.

Penguin Solutions Stock Down 1.7 %

The company has a debt-to-equity ratio of 1.65, a quick ratio of 2.19 and a current ratio of 2.65. The firm has a market capitalization of $1.03 billion, a P/E ratio of -19.49 and a beta of 1.74.

Penguin Solutions (NASDAQ:PENG) last released its 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). Penguin Solutions had a positive return on equity of 8.05% and a negative net margin of 4.48%. The company had revenue of $311.15 million for the quarter, compared to analysts’ expectations of $325.00 million. As a group, analysts expect that Penguin Solutions will post 1.33 earnings per share for the current year.

Insider Buying and Selling at Penguin Solutions

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

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.