Penguin Solutions (NASDAQ:PENG) Shares Down 4.1% – Time to Sell?

Penguin Solutions, Inc. (NASDAQ:PENG) was down 4.1% on Monday . The company traded as low as $19.68 and last traded at $19.8410. Approximately 329,917 shares were traded during trading, a decline of 74% from the average daily volume of 1,284,798 shares. The stock had previously closed at $20.69.

Wall Street Analysts Forecast Growth

PENG has been the topic of several research reports. The Goldman Sachs Group started coverage on Penguin Solutions in a research note on Tuesday, January 13th. They set a “buy” rating and a $25.00 price target on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $30.00 target price on shares of Penguin Solutions in a report on Monday, March 30th. Stifel Nicolaus cut their target price on shares of Penguin Solutions from $27.00 to $24.00 and set a “buy” rating on the stock in a research report on Thursday. Wall Street Zen raised shares of Penguin Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Finally, Needham & Company LLC increased their price objective on shares of Penguin Solutions from $25.00 to $27.00 and gave the company a “buy” rating in a research note on Thursday. Six equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $27.29.

Penguin Solutions Trading Down 2.8%

The company has a current ratio of 2.10, a quick ratio of 1.86 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $1.02 billion, a P/E ratio of 27.98 and a beta of 2.23. The company has a 50-day moving average price of $18.78 and a 200 day moving average price of $20.66.

Penguin Solutions (NASDAQ:PENG) last issued its quarterly earnings data on Wednesday, April 1st. The company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.09. The company had revenue of $343.00 million for the quarter, compared to the consensus estimate of $339.00 million. Penguin Solutions had a return on equity of 19.94% and a net margin of 4.07%. On average, research analysts forecast that Penguin Solutions, Inc. will post 1.05 earnings per share for the current fiscal year.

Insider Transactions at Penguin Solutions

In other news, SVP Anne Kuykendall sold 4,000 shares of Penguin Solutions stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $17.75, for a total value of $71,000.00. Following the transaction, the senior vice president owned 131,352 shares of the company’s stock, valued at $2,331,498. The trade was a 2.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Joseph Gates Clark sold 1,346 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $19.03, for a total transaction of $25,614.38. Following the transaction, the senior vice president owned 122,318 shares of the company’s stock, valued at approximately $2,327,711.54. This trade represents a 1.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.90% of the stock is currently owned by company insiders.

Institutional Trading of Penguin Solutions

Several hedge funds and other institutional investors have recently made changes to their positions in PENG. Farther Finance Advisors LLC grew its stake in Penguin Solutions by 187.0% during the 4th quarter. Farther Finance Advisors LLC now owns 1,452 shares of the company’s stock worth $28,000 after buying an additional 946 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in Penguin Solutions in the fourth quarter valued at about $29,000. Raymond James Financial Inc. purchased a new stake in Penguin Solutions in the second quarter valued at about $37,000. Strs Ohio acquired a new stake in Penguin Solutions in the third quarter worth about $42,000. Finally, Jones Financial Companies Lllp boosted its holdings in Penguin Solutions by 4,131.7% in the third quarter. Jones Financial Companies Lllp now owns 1,735 shares of the company’s stock worth $45,000 after acquiring an additional 1,694 shares in the last quarter.

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.