PENG (NASDAQ:PENG) Stock Price Down 0.9% – Time to Sell?

PENG (NASDAQ:PENG) shares fell 0.9% on Wednesday . The company traded as low as $16.95 and last traded at $16.95. 92,749 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 1,049,200 shares. The stock had previously closed at $17.11.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on PENG shares. The Goldman Sachs Group started coverage on shares of PENG in a research report on Friday, November 1st. They set a “buy” rating and a $21.00 target price for the company. Barclays dropped their price objective 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. JMP Securities assumed coverage on PENG in a research note on Monday. They issued an “outperform” rating and a $23.00 target price on the stock. Stifel Nicolaus dropped their price target on PENG from $32.00 to $27.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Finally, Needham & Company LLC reduced their price objective on PENG from $35.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $23.60.

PENG Trading Up 2.8 %

The company has a debt-to-equity ratio of 1.65, a quick ratio of 2.19 and a current ratio of 2.65. The firm has a market cap of $928.84 million, a P/E ratio of -17.43 and a beta of 1.70.

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

Insiders Place Their Bets

In other PENG news, insider Joseph Gates Clark sold 2,264 shares of the firm’s stock in a transaction on Thursday, November 14th. The shares were 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 of the company’s stock, valued at $1,679,982.50. This trade represents a 2.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.40% of the company’s stock.

PENG Company Profile

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.