Joseph Gates Clark Sells 2,264 Shares of PENG (NASDAQ:PENG) Stock

PENG (NASDAQ:PENG) 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 completion of the sale, 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 position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

PENG Price Performance

PENG stock traded down $0.72 during midday trading on Friday, reaching $16.42. The stock had a trading volume of 799,772 shares, compared to its average volume of 1,057,687. PENG has a 12 month low of $14.87 and a 12 month high of $29.81. 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 released its quarterly 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). The company had revenue of $311.15 million for the quarter, compared to analyst estimates of $325.00 million. PENG had a negative net margin of 4.48% and a positive return on equity of 8.05%. As a group, analysts anticipate that PENG will post 1.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Needham & Company LLC reduced their price target on PENG from $35.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Stifel Nicolaus lowered their price objective on PENG from $32.00 to $27.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. The Goldman Sachs Group began coverage on shares of PENG in a research report on Friday, November 1st. They issued a “buy” rating and a $21.00 price target on the stock. Finally, 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 research report on Wednesday, October 16th.

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.