PENG (NASDAQ:PENG) Shares Down 0.8% – What’s Next?

PENG (NASDAQ:PENG)’s share price was down 0.8% on Thursday . The company traded as low as $17.65 and last traded at $17.99. Approximately 696,450 shares were traded during trading, a decline of 33% from the average daily volume of 1,046,647 shares. The stock had previously closed at $18.14.

Analysts Set New Price Targets

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

PENG Stock Up 0.8 %

The firm has a market cap of $966.68 million, a PE ratio of -18.14 and a beta of 1.70. The company has a quick ratio of 2.19, a current ratio of 2.65 and a debt-to-equity ratio of 1.65.

PENG (NASDAQ:PENG) last announced its earnings results on Tuesday, October 15th. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $325.00 million. Equities research analysts forecast that PENG will post 1.33 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Joseph Gates Clark sold 2,264 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $17.50, for a total value of $39,620.00. Following the completion of the transaction, the insider now directly owns 95,999 shares in the company, valued at approximately $1,679,982.50. This represents a 2.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.40% of the stock is owned by company insiders.

About PENG

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.