Penguin Solutions Target of Unusually High Options Trading (NASDAQ:PENG)

Penguin Solutions, Inc. (NASDAQ:PENG) saw unusually large options trading activity on Wednesday. Investors purchased 6,537 call options on the stock. This is an increase of approximately 378% compared to the typical daily volume of 1,369 call options.

Penguin Solutions Stock Up 3.7%

Shares of PENG stock traded up $1.34 during trading on Wednesday, hitting $37.79. 1,660,768 shares of the company were exchanged, compared to its average volume of 1,428,183. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.55 and a current ratio of 2.10. The firm has a market capitalization of $1.92 billion, a price-to-earnings ratio of 52.50 and a beta of 2.66. The business’s 50-day simple moving average is $21.81 and its 200 day simple moving average is $20.79. Penguin Solutions has a twelve month low of $16.04 and a twelve month high of $37.86.

Penguin Solutions (NASDAQ:PENG) last posted its quarterly earnings results on Wednesday, April 1st. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.43 by $0.09. The business had revenue of $343.00 million during the quarter, compared to analysts’ expectations of $339.00 million. Penguin Solutions had a net margin of 4.07% and a return on equity of 19.94%. As a group, analysts forecast that Penguin Solutions will post 1.66 EPS for the current fiscal year.

Insider Activity at Penguin Solutions

In other news, SVP Joseph Gates Clark sold 12,546 shares of Penguin Solutions 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 of the company’s stock, valued at $2,248,821.30. The trade was a 11.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Anne Kuykendall sold 4,000 shares of Penguin Solutions stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $17.75, for a total transaction of $71,000.00. Following the completion of the transaction, the senior vice president directly owned 131,352 shares in the company, valued at $2,331,498. This represents a 2.96% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 30,115 shares of company stock worth $723,997 in the last ninety days. Corporate insiders own 2.90% of the company’s stock.

Institutional Trading of Penguin Solutions

Institutional investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC boosted its holdings in shares of Penguin Solutions by 187.0% during the fourth quarter. Farther Finance Advisors LLC now owns 1,452 shares of the company’s stock worth $28,000 after purchasing an additional 946 shares during the period. Kestra Advisory Services LLC acquired a new stake in shares of Penguin Solutions during the fourth quarter worth approximately $29,000. Raymond James Financial Inc. acquired a new stake in shares of Penguin Solutions during the second quarter worth approximately $37,000. Strs Ohio acquired a new stake in shares of Penguin Solutions during the third quarter worth approximately $42,000. Finally, Jones Financial Companies Lllp boosted its holdings in shares of Penguin Solutions by 4,131.7% during the third quarter. Jones Financial Companies Lllp now owns 1,735 shares of the company’s stock worth $45,000 after purchasing an additional 1,694 shares during the period.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on PENG shares. The Goldman Sachs Group started coverage on shares of Penguin Solutions in a research report on Tuesday, January 13th. They issued a “buy” rating and a $25.00 target price on the stock. Needham & Company LLC lifted their target price on shares of Penguin Solutions from $25.00 to $27.00 and gave the stock a “buy” rating in a research report on Thursday, April 2nd. Wall Street Zen raised shares of Penguin Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Weiss Ratings raised shares of Penguin Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, April 6th. Finally, Zacks Research raised shares of Penguin Solutions from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 7th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $27.25.

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.