Loop Capital Initiates Coverage on Penguin Solutions (NASDAQ:PENG)

Loop Capital initiated coverage on shares of Penguin Solutions (NASDAQ:PENG) in a research report released on Tuesday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $30.00 price objective on the stock.

Other equities research analysts have also recently issued reports about the stock. Needham & Company LLC cut their price objective on shares of Penguin Solutions from $35.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. Barclays dropped their price target on shares of Penguin Solutions from $27.00 to $22.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Citizens Jmp raised shares of Penguin Solutions to a “strong-buy” rating in a report on Monday, November 18th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $27.00 price objective on shares of Penguin Solutions in a research note on Thursday, December 19th. Finally, The Goldman Sachs Group assumed coverage on shares of Penguin Solutions in a research note on Friday, November 1st. They set a “buy” rating and a $21.00 target price for the company. Seven 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 company has an average rating of “Buy” and an average target price of $25.00.

Penguin Solutions Trading Up 0.6 %

NASDAQ PENG opened at $19.84 on Tuesday. The stock has a 50-day moving average price of $18.42. Penguin Solutions has a 52 week low of $14.87 and a 52 week high of $29.81. The company has a market cap of $1.06 billion, a PE ratio of -19.84 and a beta of 1.69. The company has a current ratio of 2.65, a quick ratio of 2.19 and a debt-to-equity ratio of 1.65.

Penguin Solutions (NASDAQ:PENG) last issued 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 business had revenue of $311.15 million during the quarter, compared to the consensus estimate 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 expect that Penguin Solutions will post 1.33 earnings per share for the current fiscal year.

Insider Transactions at Penguin Solutions

In other Penguin Solutions news, COO Jack A. Pacheco sold 13,334 shares of the stock in a transaction 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 transaction, 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 filing with the SEC, which is available through the SEC website. Also, insider Joseph Gates Clark sold 2,264 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $17.50, for a total value of $39,620.00. Following the completion of the transaction, the insider now directly owns 95,999 shares in the company, valued at $1,679,982.50. The trade was a 2.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,264 shares of company stock valued at $440,287 over the last ninety days. Corporate 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.