Jack A. Pacheco Sells 6,667 Shares of Penguin Solutions (NASDAQ:PENG) Stock

Penguin Solutions (NASDAQ:PENG) COO Jack A. Pacheco sold 6,667 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $20.55, for a total transaction of $137,006.85. Following the transaction, the chief operating officer now directly owns 231,548 shares of the company’s stock, valued at approximately $4,758,311.40. This represents a 2.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Penguin Solutions Stock Down 2.0 %

PENG opened at $20.92 on Friday. The company has a market cap of $1.11 billion, a price-to-earnings ratio of -40.23 and a beta of 1.69. The company has a current ratio of 2.33, a quick ratio of 1.75 and a debt-to-equity ratio of 1.61. The stock’s fifty day moving average is $19.15. Penguin Solutions has a fifty-two week low of $14.87 and a fifty-two week high of $29.81.

Analyst Upgrades and Downgrades

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. Rosenblatt Securities reaffirmed a “buy” rating and issued a $27.00 price target on shares of Penguin Solutions in a report on Thursday, December 19th. Barclays lifted their price target on shares of Penguin Solutions from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Thursday, January 9th. Citizens Jmp raised shares of Penguin Solutions to a “strong-buy” rating in a report on Monday, November 18th. Finally, Loop Capital assumed coverage on shares of Penguin Solutions in a report on Tuesday, January 7th. They issued a “buy” rating and a $30.00 price target for the company. Six analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $25.43.

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.