Amalgamated Bank Acquires New Position in Penguin Solutions, Inc. (NASDAQ:PENG)

Amalgamated Bank purchased a new stake in Penguin Solutions, Inc. (NASDAQ:PENG - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 15,195 shares of the company's stock, valued at approximately $264,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Allspring Global Investments Holdings LLC acquired a new stake in shares of Penguin Solutions during the first quarter worth $779,000. Cambridge Investment Research Advisors Inc. purchased a new position in Penguin Solutions during the first quarter worth approximately $188,000. Finally, Crews Bank & Trust purchased a new stake in Penguin Solutions during the first quarter valued at about $28,000.

Analysts Set New Price Targets

Several research analysts recently commented on PENG shares. Rosenblatt Securities restated a "buy" rating and issued a $27.00 price target on shares of Penguin Solutions in a report on Thursday, July 3rd. JPMorgan Chase & Co. upped their price target on shares of Penguin Solutions from $18.00 to $21.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 9th. Needham & Company LLC restated a "buy" rating and set a $27.00 price objective on shares of Penguin Solutions in a research note on Wednesday, July 9th. The Goldman Sachs Group increased their target price on Penguin Solutions from $22.50 to $25.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $26.00 price objective on shares of Penguin Solutions in a research report on Wednesday, July 9th. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $26.38.

Penguin Solutions Stock Performance

NASDAQ PENG traded up $0.39 on Tuesday, hitting $25.09. The stock had a trading volume of 1,151,094 shares, compared to its average volume of 865,254. The company's 50-day moving average is $19.50 and its two-hundred day moving average is $19.02. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of -89.62 and a beta of 1.98. The company has a quick ratio of 2.24, a current ratio of 2.62 and a debt-to-equity ratio of 1.08. Penguin Solutions, Inc. has a one year low of $14.20 and a one year high of $29.49.

Penguin Solutions (NASDAQ:PENG - Get Free Report) last released its earnings results on Tuesday, July 8th. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.30 by $0.17. Penguin Solutions had a negative net margin of 0.68% and a positive return on equity of 13.27%. The firm had revenue of $324,251 billion for the quarter, compared to analysts' expectations of $330.82 million. On average, analysts expect that Penguin Solutions, Inc. will post 1.05 earnings per share for the current year.

Penguin Solutions 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.