PENG (NASDAQ:PENG) Shares Down 0.8% – Here’s Why

Shares of PENG (NASDAQ:PENG) fell 0.8% during trading on Tuesday . The stock traded as low as $17.86 and last traded at $17.93. 132,295 shares were traded during mid-day trading, a decline of 87% from the average session volume of 1,043,123 shares. The stock had previously closed at $18.08.

Analysts Set New Price Targets

PENG has been the subject of several research reports. JMP Securities initiated coverage on PENG in a research report on Monday, November 18th. They set an “outperform” rating and a $23.00 price objective for the company. Stifel Nicolaus cut their target price on shares of PENG from $32.00 to $27.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Needham & Company LLC lowered their price target on shares of PENG from $35.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. The Goldman Sachs Group initiated coverage on shares of PENG in a research report on Friday, November 1st. They set a “buy” rating and a $21.00 target price on the stock. Finally, Barclays cut their price target on PENG from $27.00 to $22.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $23.60.

PENG Stock Up 0.1 %

The company has a market cap of $964.02 million, a price-to-earnings ratio of -17.93 and a beta of 1.70. The company has a debt-to-equity ratio of 1.65, a current ratio of 2.65 and a quick ratio of 2.19.

PENG (NASDAQ:PENG) last released its quarterly earnings data on Tuesday, October 15th. The company reported $0.23 earnings per share (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 business had revenue of $311.15 million for the quarter, compared to analysts’ expectations of $325.00 million. Sell-side analysts anticipate that PENG will post 1.33 earnings per share for the current fiscal year.

Insider Activity at PENG

In related 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 transaction of $39,620.00. Following the completion of the sale, the insider now directly owns 95,999 shares of the company’s stock, valued at approximately $1,679,982.50. This trade represents a 2.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.40% of the stock is owned by insiders.

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.