Penguin Solutions (NASDAQ:PENG) COO Sells $147,607.38 in Stock

Penguin Solutions (NASDAQ:PENG) COO Jack A. Pacheco sold 6,667 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $22.14, for a total transaction of $147,607.38. Following the sale, the chief operating officer now owns 231,548 shares in the company, valued at $5,126,472.72. This represents a 2.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Penguin Solutions Stock Down 3.5 %

PENG stock opened at $21.35 on Monday. The company has a debt-to-equity ratio of 1.61, a current ratio of 2.33 and a quick ratio of 1.75. The company has a market capitalization of $1.14 billion, a P/E ratio of -41.06 and a beta of 1.68. Penguin Solutions has a 12 month low of $14.87 and a 12 month high of $29.81. The business has a 50 day simple moving average of $20.10.

Wall Street Analyst Weigh In

PENG has been the topic of several research reports. The Goldman Sachs Group initiated coverage on shares of Penguin Solutions in a research note on Friday, November 1st. They issued a “buy” rating and a $21.00 price objective on the stock. Loop Capital initiated coverage on shares of Penguin Solutions in a research note on Tuesday, January 7th. They issued a “buy” rating and a $30.00 price objective on the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $27.00 price objective on shares of Penguin Solutions in a research note on Thursday, December 19th. Citizens Jmp upgraded shares of Penguin Solutions to a “strong-buy” rating in a research note on Monday, November 18th. Finally, Needham & Company LLC upped their price objective on shares of Penguin Solutions from $25.00 to $27.00 and gave the company a “buy” rating in a research note on Thursday, January 9th. Six research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus 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.