Penguin Solutions, Inc. (NASDAQ:PENG - Get Free Report) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $25.94 and last traded at $24.84, with a volume of 1492386 shares traded. The stock had previously closed at $24.70.
Analyst Upgrades and Downgrades
Several equities research analysts have recently issued reports on the stock. Needham & Company LLC restated a "buy" rating and issued a $27.00 price objective on shares of Penguin Solutions in a research note on Wednesday, July 9th. Loop Capital set a $35.00 price objective on Penguin Solutions and gave the stock a "buy" rating in a research report on Monday, July 14th. The Goldman Sachs Group upped their price objective on Penguin Solutions from $22.50 to $25.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Rosenblatt Securities reiterated a "buy" rating and set a $27.00 price objective on shares of Penguin Solutions in a research report on Thursday, July 3rd. Finally, JPMorgan Chase & Co. upped their price objective on Penguin Solutions from $21.00 to $24.00 and gave the company a "neutral" rating in a research report on Thursday. One investment 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 data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $26.75.
Get Our Latest Report on Penguin Solutions
Penguin Solutions Stock Performance
The stock's 50-day simple moving average is $20.21 and its two-hundred day simple moving average is $19.22. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of -87.25 and a beta of 1.98. The company has a debt-to-equity ratio of 1.08, a quick ratio of 2.24 and a current ratio of 2.62.
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 for the quarter, compared to analyst estimates of $330.82 million. Penguin Solutions had a negative net margin of 0.68% and a positive return on equity of 13.27%. Analysts forecast that Penguin Solutions, Inc. will post 1.05 earnings per share for the current year.
Insider Activity at Penguin Solutions
In related news, Director Penny Herscher sold 2,046 shares of Penguin Solutions stock in a transaction that occurred 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 of the company's stock, valued at approximately $463,203.24. The trade was a 10.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.60% of the company's stock.
Institutional Inflows and Outflows
A number of institutional investors have recently modified their holdings of the stock. Crews Bank & Trust bought a new position in Penguin Solutions during the first quarter valued at about $28,000. IFP Advisors Inc purchased a new stake in shares of Penguin Solutions in the first quarter worth about $39,000. CWM LLC purchased a new stake in shares of Penguin Solutions in the first quarter worth about $39,000. Virtus Advisers LLC purchased a new stake in shares of Penguin Solutions in the first quarter worth about $43,000. Finally, UMB Bank n.a. purchased a new stake in shares of Penguin Solutions in the second quarter worth about $44,000.
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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