Penguin Solutions (NASDAQ:PENG) Shares Up 1.6% - Still a Buy?

Penguin Solutions (NASDAQ:PENG - Get Free Report)'s share price traded up 1.6% on Monday . The company traded as high as $20.20 and last traded at $19.87. 475,939 shares changed hands during trading, a decline of 45% from the average session volume of 864,901 shares. The stock had previously closed at $19.55.

Wall Street Analysts Forecast Growth

PENG has been the topic of several research analyst reports. Wall Street Zen upgraded Penguin Solutions from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd. JPMorgan Chase & Co. assumed coverage on Penguin Solutions in a research note on Monday, March 31st. They set a "neutral" rating and a $20.00 price target for the company. Needham & Company LLC reaffirmed a "buy" rating and set a $27.00 price objective on shares of Penguin Solutions in a report on Thursday, April 3rd. Rosenblatt Securities reiterated a "buy" rating and set a $27.00 target price on shares of Penguin Solutions in a research report on Thursday, April 17th. Finally, The Goldman Sachs Group lowered their price target on shares of Penguin Solutions from $26.00 to $22.50 and set a "buy" rating on the stock in a research report on Thursday, April 3rd. One analyst has rated the stock with a hold rating, six have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, Penguin Solutions has an average rating of "Buy" and a consensus price target of $24.94.

Penguin Solutions Stock Up 1.8%

The firm has a market cap of $1.08 billion, a PE ratio of -39.19 and a beta of 1.97. The company has a quick ratio of 1.75, a current ratio of 2.33 and a debt-to-equity ratio of 1.61. The stock has a 50-day simple moving average of $17.52 and a two-hundred day simple moving average of $18.80.

Penguin Solutions (NASDAQ:PENG - Get Free Report) last issued its quarterly earnings data on Wednesday, April 2nd. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.33 by $0.19. Penguin Solutions had a negative net margin of 2.21% and a positive return on equity of 11.70%. The business had revenue of $365.52 million for the quarter, compared to the consensus estimate of $344.44 million. The firm's revenue was up 28.3% on a year-over-year basis. Analysts expect that Penguin Solutions will post 1.05 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Jack A. Pacheco sold 3,219 shares of the business's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $20.00, for a total transaction of $64,380.00. Following the completion of the sale, the executive vice president now directly owns 231,548 shares in the company, valued at approximately $4,630,960. The trade was a 1.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Penguin Solutions

A number of institutional investors and hedge funds have recently bought and sold shares of PENG. Crews Bank & Trust bought a new stake in Penguin Solutions during the first quarter worth approximately $28,000. IFP Advisors Inc bought a new position in shares of Penguin Solutions during the 1st quarter valued at approximately $39,000. CWM LLC bought a new position in shares of Penguin Solutions during the 1st quarter valued at approximately $39,000. Virtus Advisers LLC bought a new stake in Penguin Solutions in the first quarter worth $43,000. Finally, PNC Financial Services Group Inc. purchased a new position in Penguin Solutions during the first quarter worth $62,000.

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.