Penguin Solutions (NASDAQ:PENG) Trading Up 9% – What’s Next?

Penguin Solutions, Inc. (NASDAQ:PENG)’s stock price traded up 9% during trading on Tuesday . The stock traded as high as $73.87 and last traded at $74.0530. Approximately 1,806,582 shares changed hands during mid-day trading, a decline of 13% from the average daily volume of 2,080,466 shares. The stock had previously closed at $67.94.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PENG shares. Zacks Research downgraded shares of Penguin Solutions from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 1st. Needham & Company LLC upped their price target on Penguin Solutions from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. Rosenblatt Securities raised their price objective on Penguin Solutions from $54.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Stifel Nicolaus upped their target price on Penguin Solutions from $24.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Finally, Weiss Ratings lowered shares of Penguin Solutions from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, May 13th. Six analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $36.88.

Penguin Solutions Trading Up 9.4%

The firm has a market capitalization of $3.77 billion, a price-to-earnings ratio of 102.99 and a beta of 2.88. The company has a current ratio of 2.10, a quick ratio of 1.55 and a debt-to-equity ratio of 1.09. The company has a fifty day moving average price of $51.01 and a 200-day moving average price of $30.74.

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 the consensus estimate of $0.43 by $0.09. The firm had revenue of $343.00 million for the quarter, compared to analyst estimates of $339.00 million. Penguin Solutions had a net margin of 4.07% and a return on equity of 19.94%. On average, equities research analysts predict that Penguin Solutions, Inc. will post 1.79 EPS for the current year.

Insider Buying and Selling

In other Penguin Solutions news, Director Maximiliane C. Straub sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $45.00, for a total transaction of $360,000.00. Following the completion of the sale, the director owned 58,975 shares of the company’s stock, valued at $2,653,875. This represents a 11.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Joseph Gates Clark sold 12,546 shares of the stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $22.55, for a total value of $282,912.30. Following the transaction, the senior vice president owned 99,726 shares in the company, valued at approximately $2,248,821.30. This trade represents a 11.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 83,120 shares of company stock worth $3,486,734. Insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Pacer Advisors Inc. boosted its holdings in Penguin Solutions by 34.0% during the first quarter. Pacer Advisors Inc. now owns 261,776 shares of the company’s stock valued at $4,607,000 after acquiring an additional 66,460 shares during the period. California State Teachers Retirement System boosted its stake in Penguin Solutions by 52.8% during the 1st quarter. California State Teachers Retirement System now owns 74,580 shares of the company’s stock valued at $1,313,000 after purchasing an additional 25,763 shares during the period. Maverick Capital Ltd. acquired a new stake in Penguin Solutions in the 1st quarter valued at approximately $771,000. Quantinno Capital Management LP increased its position in Penguin Solutions by 16.6% in the 1st quarter. Quantinno Capital Management LP now owns 28,318 shares of the company’s stock worth $498,000 after buying an additional 4,036 shares during the period. Finally, Paradigm Capital Management Inc. NY lifted its holdings in shares of Penguin Solutions by 73.8% during the first quarter. Paradigm Capital Management Inc. NY now owns 1,605,100 shares of the company’s stock worth $28,250,000 after buying an additional 681,700 shares during 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.