Penguin Solutions (NASDAQ:PENG) Coverage Initiated by Analysts at Loop Capital

Loop Capital started coverage on shares of Penguin Solutions (NASDAQ:PENG) in a report issued on Tuesday, MarketBeat reports. The firm issued a buy rating and a $30.00 target price on the stock.

Several other brokerages also recently commented on PENG. Needham & Company LLC dropped their target price on Penguin Solutions from $35.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Citizens Jmp upgraded shares of Penguin Solutions to a “strong-buy” rating in a research note on Monday, November 18th. 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 note on Wednesday, October 16th. The Goldman Sachs Group started coverage on shares of Penguin Solutions in a report on Friday, November 1st. They set a “buy” rating and a $21.00 price target for the company. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $27.00 price objective on shares of Penguin Solutions in a report on Thursday, December 19th. Six analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $25.43.

Penguin Solutions Stock Down 3.6 %

Penguin Solutions stock opened at $19.13 on Tuesday. The stock has a fifty day simple moving average of $18.49. Penguin Solutions has a 52-week low of $14.87 and a 52-week high of $29.81. The company has a quick ratio of 2.19, a current ratio of 2.65 and a debt-to-equity ratio of 1.65. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of -19.13 and a beta of 1.69.

Penguin Solutions (NASDAQ:PENG) last announced its quarterly earnings results on Tuesday, October 15th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.04). The company had revenue of $311.15 million during the quarter, compared to analyst estimates of $325.00 million. Penguin Solutions had a negative net margin of 4.48% and a positive return on equity of 8.05%. On average, research analysts expect that Penguin Solutions will post 1.33 EPS for the current fiscal year.

Insider Activity at Penguin Solutions

In related news, COO Jack A. Pacheco sold 6,666 shares of Penguin Solutions stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $20.00, for a total transaction of $133,320.00. Following the sale, the chief operating officer now directly owns 235,960 shares in the company, valued at $4,719,200. The trade was a 2.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joseph Gates Clark sold 2,264 shares of the stock in a transaction dated 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 transaction, 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 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 ninety days. 2.60% of the stock is owned by 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.