PENG (NASDAQ:PENG) Stock Price Down 0.8% – Here’s What Happened

PENG (NASDAQ:PENG)’s share price was down 0.8% during trading on Friday . The stock traded as low as $17.65 and last traded at $17.99. Approximately 696,450 shares traded hands during mid-day trading, a decline of 25% from the average daily volume of 927,830 shares. The stock had previously closed at $18.14.

Wall Street Analyst Weigh In

PENG has been the topic of a number of recent analyst reports. Citizens Jmp upgraded shares of PENG to a “strong-buy” rating in a research note on Monday, November 18th. JMP Securities started coverage on PENG in a research report on Monday, November 18th. They issued an “outperform” rating and a $23.00 target price on the stock. Needham & Company LLC lowered their price target on PENG from $35.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Barclays cut their price objective on PENG from $27.00 to $22.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Finally, Stifel Nicolaus decreased their target price on PENG from $32.00 to $27.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, PENG currently has a consensus rating of “Buy” and a consensus price target of $23.60.

PENG Stock Up 0.8 %

The company has a market capitalization of $966.68 million, a P/E ratio of -17.99 and a beta of 1.70. The company has a quick ratio of 2.19, a current ratio of 2.65 and a debt-to-equity ratio of 1.65.

PENG (NASDAQ:PENG) last issued its quarterly earnings data on Tuesday, October 15th. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.04). PENG had a positive return on equity of 8.05% and a negative net margin of 4.48%. The firm had revenue of $311.15 million for the quarter, compared to analyst estimates of $325.00 million. As a group, research analysts expect that PENG will post 1.33 EPS for the current fiscal year.

Insider Transactions at PENG

In other news, insider Joseph Gates Clark sold 2,264 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $17.50, for a total transaction of $39,620.00. Following the transaction, the insider now owns 95,999 shares in the company, valued at $1,679,982.50. This trade represents a 2.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 2.40% of the company’s stock.

PENG Company Profile

SMART Global Holdings, Inc, a memory-focused company, engages in the designing and development of enterprise solutions in the United States, China, Europe, and internationally. It operates through Memory Solutions, Intelligent Platform Solutions, and LED Solutions segments. The company offers dynamic random access memory modules, solid-state and flash storage, and other advanced 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.