Penguin Solutions (NASDAQ:PENG) Earns Buy Rating from Analysts at Loop Capital

Loop Capital initiated coverage on shares of Penguin Solutions (NASDAQ:PENG) in a research note issued to investors on Tuesday, Marketbeat reports. The firm set a “buy” rating and a $30.00 price target on the stock. Loop Capital’s price objective suggests a potential upside of 56.82% from the company’s previous close.

PENG has been the subject of several other reports. Stifel Nicolaus dropped their target price on Penguin Solutions from $32.00 to $27.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Barclays dropped their price objective on shares of Penguin Solutions from $27.00 to $22.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. The Goldman Sachs Group initiated coverage on shares of Penguin Solutions in a report on Friday, November 1st. They set a “buy” rating and a $21.00 target price on the stock. Needham & Company LLC dropped their price target on shares of Penguin Solutions from $35.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Finally, JMP Securities initiated coverage on Penguin Solutions in a research note on Monday, November 18th. They issued an “outperform” rating and a $23.00 price objective on the stock. Six equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $25.00.

Penguin Solutions Price Performance

Shares of PENG stock opened at $19.13 on Tuesday. Penguin Solutions has a 1-year low of $14.87 and a 1-year high of $29.81. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of -19.13 and a beta of 1.69. The stock’s 50-day moving average is $18.42. The company has a current ratio of 2.65, a quick ratio of 2.19 and a debt-to-equity ratio of 1.65.

Penguin Solutions (NASDAQ:PENG) last posted its earnings results on Tuesday, October 15th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.04). Penguin Solutions had a negative net margin of 4.48% and a positive return on equity of 8.05%. The company had revenue of $311.15 million during the quarter, compared to analyst estimates of $325.00 million. Sell-side analysts anticipate that Penguin Solutions will post 1.33 EPS for the current fiscal year.

Insider Buying and Selling at Penguin Solutions

In other Penguin Solutions news, insider Joseph Gates Clark sold 2,264 shares of the firm’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $17.50, for a total transaction of $39,620.00. Following the transaction, the insider now directly owns 95,999 shares of the company’s stock, valued at approximately $1,679,982.50. This trade represents a 2.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Jack A. Pacheco sold 13,334 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $20.05, for a total value of $267,346.70. Following the sale, the chief operating officer now directly owns 235,960 shares of the company’s stock, valued at approximately $4,730,998. This represents a 5.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,264 shares of company stock worth $440,287 over the last 90 days. Corporate insiders own 2.60% of the company’s stock.

About Penguin Solutions

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.