Penguin Solutions (NASDAQ:PENG) Now Covered by Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. began coverage on shares of Penguin Solutions (NASDAQ:PENG) in a research report sent to investors on Monday morning, Marketbeat Ratings reports. The firm issued a neutral rating and a $20.00 price objective on the stock.

Other equities analysts also recently issued reports about the stock. Needham & Company LLC upped their target price on shares of Penguin Solutions from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Thursday, January 9th. Barclays increased their price objective on Penguin Solutions from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Thursday, January 9th. Loop Capital started coverage on Penguin Solutions in a research report on Tuesday, January 7th. They set a “buy” rating and a $30.00 target price for the company. Finally, Rosenblatt Securities reissued a “buy” rating and set a $27.00 price target on shares of Penguin Solutions in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Penguin Solutions has a consensus rating of “Buy” and a consensus price target of $24.75.

Penguin Solutions Trading Up 4.5 %

NASDAQ PENG opened at $18.05 on Monday. The company has a market capitalization of $961.90 million, a PE ratio of -34.71 and a beta of 1.70. Penguin Solutions has a 12 month low of $14.87 and a 12 month high of $22.67. The business has a 50-day moving average of $19.55. The company has a current ratio of 2.33, a quick ratio of 1.75 and a debt-to-equity ratio of 1.61.

Insider Buying and Selling at Penguin Solutions

In other Penguin Solutions news, SVP Joseph Gates Clark sold 2,131 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $20.94, for a total value of $44,623.14. Following the completion of the sale, the senior vice president now directly owns 89,469 shares in the company, valued at $1,873,480.86. This trade represents a 2.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jack A. Pacheco sold 6,667 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $20.55, for a total value of $137,006.85. Following the transaction, the chief operating officer now directly owns 231,548 shares in the company, valued at approximately $4,758,311.40. The trade was a 2.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,684 shares of company stock valued at $393,617. 2.60% of the stock is currently owned by corporate insiders.

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.