Penguin Solutions (NASDAQ:PENG) COO Sells $133,320.00 in Stock

Penguin Solutions (NASDAQ:PENG) COO Jack A. Pacheco sold 6,666 shares of Penguin Solutions stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $20.00, for a total transaction of $133,320.00. Following the completion of the transaction, the chief operating officer now directly owns 235,960 shares of the company’s stock, valued at approximately $4,719,200. This represents a 2.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Penguin Solutions Price Performance

Shares of Penguin Solutions stock opened at $19.37 on Friday. The company has a quick ratio of 2.19, a current ratio of 2.65 and a debt-to-equity ratio of 1.65. Penguin Solutions has a 1-year low of $14.87 and a 1-year high of $29.81. The firm’s fifty day simple moving average is $17.88. The company has a market cap of $1.03 billion, a P/E ratio of -19.37 and a beta of 1.74.

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

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Stifel Nicolaus decreased their price target on shares of Penguin Solutions from $32.00 to $27.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. Needham & Company LLC decreased their target price on Penguin Solutions from $35.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Barclays dropped their price target on Penguin Solutions from $27.00 to $22.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. JMP Securities initiated coverage on Penguin Solutions in a research report on Monday, November 18th. They set an “outperform” rating and a $23.00 price objective for the company. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $27.00 target price on shares of Penguin Solutions in a research report on Thursday, December 19th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Penguin Solutions currently has an average rating of “Buy” and an average target price of $24.17.

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.