Penguin Solutions, Inc. (NASDAQ:PENG - Get Free Report) Director Penny Herscher sold 682 shares of the firm's stock in a transaction dated Thursday, July 17th. The stock was sold at an average price of $25.00, for a total value of $17,050.00. Following the transaction, the director owned 17,540 shares of the company's stock, valued at $438,500. This trade represents a 3.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Penguin Solutions Stock Up 1.0%
Shares of PENG stock traded up $0.25 during trading hours on Thursday, reaching $24.88. The company had a trading volume of 988,619 shares, compared to its average volume of 912,785. Penguin Solutions, Inc. has a 12 month low of $14.20 and a 12 month high of $25.94. The company has a debt-to-equity ratio of 1.08, a current ratio of 2.62 and a quick ratio of 2.24. The business has a fifty day simple moving average of $20.07 and a 200-day simple moving average of $19.18. The company has a market cap of $1.30 billion, a price-to-earnings ratio of -88.85 and a beta of 1.98.
Penguin Solutions (NASDAQ:PENG - Get Free Report) last announced its quarterly earnings data on Tuesday, July 8th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.17. The business had revenue of $324,251 billion during the quarter, compared to analyst estimates of $330.82 million. Penguin Solutions had a positive return on equity of 13.27% and a negative net margin of 0.68%. On average, research analysts expect that Penguin Solutions, Inc. will post 1.05 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Penguin Solutions
A number of institutional investors and hedge funds have recently modified their holdings of the company. Crews Bank & Trust purchased a new position in Penguin Solutions in the first quarter worth $28,000. State of Alaska Department of Revenue lifted its stake in Penguin Solutions by 6.3% in the second quarter. State of Alaska Department of Revenue now owns 31,383 shares of the company's stock worth $621,000 after acquiring an additional 1,855 shares during the period. IFP Advisors Inc purchased a new position in shares of Penguin Solutions during the 1st quarter worth approximately $39,000. UMB Bank n.a. bought a new stake in Penguin Solutions during the second quarter worth about $44,000. Finally, CWM LLC purchased a new stake in Penguin Solutions in the first quarter worth about $39,000.
Wall Street Analysts Forecast Growth
Several brokerages recently commented on PENG. Rosenblatt Securities restated a "buy" rating and set a $27.00 target price on shares of Penguin Solutions in a research report on Thursday, July 3rd. Needham & Company LLC restated a "buy" rating and set a $27.00 price target on shares of Penguin Solutions in a report on Wednesday, July 9th. Loop Capital set a $35.00 target price on shares of Penguin Solutions and gave the stock a "buy" rating in a research note on Monday. JPMorgan Chase & Co. lifted their price target on shares of Penguin Solutions from $21.00 to $24.00 and gave the company a "neutral" rating in a research note on Thursday. Finally, The Goldman Sachs Group increased their price objective on shares of Penguin Solutions from $22.50 to $25.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $26.75.
Read Our Latest Report on PENG
About Penguin Solutions
(
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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.
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