Penny Herscher Sells 2,046 Shares of Penguin Solutions, Inc. (NASDAQ:PENG) Stock

Penguin Solutions, Inc. (NASDAQ:PENG - Get Free Report) Director Penny Herscher sold 2,046 shares of the business's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $25.42, for a total transaction of $52,009.32. Following the sale, the director directly owned 18,222 shares in the company, valued at approximately $463,203.24. This trade represents a 10.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Penny Herscher also recently made the following trade(s):

• On Thursday, July 17th, Penny Herscher sold 682 shares of Penguin Solutions stock. The shares were sold at an average price of $25.00, for a total transaction of $17,050.00.

Penguin Solutions Trading Up 2.4%

PENG stock traded up $0.58 during midday trading on Monday, reaching $25.01. The company's stock had a trading volume of 405,524 shares, compared to its average volume of 910,422. Penguin Solutions, Inc. has a 52 week low of $14.20 and a 52 week high of $25.94. The stock has a market cap of $1.31 billion, a PE ratio of -89.26 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. The business's 50-day simple moving average is $20.21 and its 200-day simple moving average is $19.22.

Penguin Solutions (NASDAQ:PENG - Get Free Report) last issued its quarterly earnings data on Tuesday, July 8th. The company reported $0.47 EPS for the quarter, topping analysts' consensus estimates 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 business had revenue of $324,251 billion for the quarter, compared to analyst estimates of $330.82 million. As a group, sell-side analysts expect that Penguin Solutions, Inc. will post 1.05 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Crews Bank & Trust bought a new stake in Penguin Solutions in the 1st quarter valued at about $28,000. IFP Advisors Inc bought a new stake in shares of Penguin Solutions during the 1st quarter worth approximately $39,000. CWM LLC bought a new stake in shares of Penguin Solutions during the 1st quarter worth approximately $39,000. Virtus Advisers LLC acquired a new position in Penguin Solutions during the first quarter worth about $43,000. Finally, UMB Bank n.a. acquired a new position in Penguin Solutions during the second quarter worth about $44,000.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Loop Capital set a $35.00 price target on shares of Penguin Solutions and gave the company a "buy" rating in a report on Monday, July 14th. Needham & Company LLC reissued a "buy" rating and set a $27.00 target price on shares of Penguin Solutions in a research report on Wednesday, July 9th. JMP Securities reaffirmed a "market outperform" rating and set a $26.00 price objective on shares of Penguin Solutions in a research report on Wednesday, July 9th. Rosenblatt Securities reissued a "buy" rating and issued a $27.00 price target on shares of Penguin Solutions in a research report on Thursday, July 3rd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Penguin Solutions from $21.00 to $24.00 and gave the stock a "neutral" rating in a research note on Thursday. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $26.75.

Penguin Solutions Company 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.