PENG (NASDAQ:PENG) Stock Price Up 1.1% – What’s Next?

Shares of PENG (NASDAQ:PENG) traded up 1.1% on Friday . The stock traded as high as $17.75 and last traded at $17.60. 67,288 shares were traded during mid-day trading, a decline of 94% from the average session volume of 1,045,092 shares. The stock had previously closed at $17.41.

Wall Street Analyst Weigh In

PENG has been the topic of several research reports. Stifel Nicolaus cut their price target on PENG from $32.00 to $27.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. Barclays reduced their price target on shares of PENG from $27.00 to $22.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Citizens Jmp upgraded shares of PENG to a “strong-buy” rating in a research note on Monday, November 18th. The Goldman Sachs Group initiated coverage on shares of PENG in a research note on Friday, November 1st. They issued a “buy” rating and a $21.00 price objective for the company. Finally, JMP Securities assumed coverage on PENG in a research report on Monday, November 18th. They set an “outperform” rating and a $23.00 target price on the stock. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $23.60.

PENG Price Performance

The stock has a market capitalization of $940.57 million, a price-to-earnings ratio of -17.65 and a beta of 1.70. The company has a debt-to-equity ratio of 1.65, a current ratio of 2.65 and a quick ratio of 2.19.

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

Insider Buying and Selling

In related news, insider Joseph Gates Clark sold 2,264 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $17.50, for a total value of $39,620.00. Following the sale, the insider now owns 95,999 shares in the company, valued at $1,679,982.50. This represents a 2.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.40% of the stock is currently owned by company insiders.

About PENG

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.