Penguin Solutions (NASDAQ:PENG) Coverage Initiated at JPMorgan Chase & Co.

Research analysts at JPMorgan Chase & Co. started coverage on shares of Penguin Solutions (NASDAQ:PENG) in a research report issued on Monday,Benzinga reports. The brokerage set a “neutral” rating and a $20.00 price target on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 14.55% from the company’s current price.

Other research analysts have also recently issued reports about the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $27.00 price target on shares of Penguin Solutions in a research report on Thursday, December 19th. Needham & Company LLC increased their target price on Penguin Solutions from $25.00 to $27.00 and gave the company a “buy” rating in a research note on Thursday, January 9th. Barclays raised their target price on Penguin Solutions from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Thursday, January 9th. Finally, Loop Capital began coverage on shares of Penguin Solutions in a report on Tuesday, January 7th. They issued a “buy” rating and a $30.00 price objective on the stock. One analyst has rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Penguin Solutions has a consensus rating of “Buy” and an average target price of $24.75.

Penguin Solutions Trading Down 4.3 %

PENG stock opened at $17.46 on Monday. The stock has a market capitalization of $930.46 million, a P/E ratio of -33.58 and a beta of 1.70. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.75 and a current ratio of 2.33. The firm’s 50-day moving average price is $19.74. Penguin Solutions has a 12-month low of $14.87 and a 12-month high of $22.67.

Insider Activity

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

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.