Penguin Solutions (PENG) Projected to Release Earnings on Wednesday

Penguin Solutions (NASDAQ:PENG) is projected to announce its earnings results after the market closes on Wednesday, April 2nd. Analysts expect the company to announce earnings of $0.33 per share and revenue of $344.44 million for the quarter.

Penguin Solutions Stock Performance

NASDAQ:PENG opened at $17.46 on Monday. The firm has a 50-day moving average price of $19.74. The company has a quick ratio of 1.75, a current ratio of 2.33 and a debt-to-equity ratio of 1.61. Penguin Solutions has a fifty-two week low of $14.87 and a fifty-two week high of $22.67. The company has a market cap of $930.46 million, a PE ratio of -33.58 and a beta of 1.70.

Insider Activity at Penguin Solutions

In other Penguin Solutions news, COO Jack A. Pacheco sold 6,667 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $22.14, for a total transaction of $147,607.38. Following the sale, the chief operating officer now owns 231,548 shares in the company, valued at approximately $5,126,472.72. The trade was a 2.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Joseph Gates Clark sold 2,131 shares of the stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $20.94, for a total value of $44,623.14. Following the completion of the transaction, the senior vice president now directly owns 89,469 shares in the company, valued at $1,873,480.86. This represents a 2.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,684 shares of company stock valued at $393,617 in the last ninety days. Company insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on PENG. 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. Loop Capital assumed coverage on Penguin Solutions in a research report on Tuesday, January 7th. They issued a “buy” rating and a $30.00 price objective for the company. Needham & Company LLC upped their target price on Penguin Solutions from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Thursday, January 9th. Finally, Barclays raised their price target on Penguin Solutions from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Thursday, January 9th. Six research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target 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.