Penguin Solutions (NASDAQ:PENG) Upgraded at Weiss Ratings

Penguin Solutions (NASDAQ:PENG) was upgraded by analysts at Weiss Ratings from a “sell (d-)” rating to a “hold (c-)” rating in a report issued on Saturday,Weiss Ratings reports.

PENG has been the topic of a number of other reports. The Goldman Sachs Group lifted their price objective on shares of Penguin Solutions from $22.50 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, July 9th. JMP Securities restated a “market outperform” rating and issued a $26.00 price objective on shares of Penguin Solutions in a research note on Wednesday, October 8th. JPMorgan Chase & Co. lifted their price objective on shares of Penguin Solutions from $21.00 to $24.00 and gave the company a “neutral” rating in a research note on Thursday, July 17th. Rosenblatt Securities restated a “buy” rating and issued a $30.00 price objective on shares of Penguin Solutions in a research note on Tuesday, October 14th. Finally, Needham & Company LLC lifted their price objective on shares of Penguin Solutions from $27.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $28.00.

Penguin Solutions Price Performance

Shares of PENG opened at $22.40 on Friday. Penguin Solutions has a 1-year low of $14.20 and a 1-year high of $29.80. The stock has a market cap of $1.18 billion, a PE ratio of 77.24 and a beta of 2.20. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.25 and a quick ratio of 1.71. The firm has a fifty day moving average price of $24.76 and a 200 day moving average price of $21.75.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in PENG. Raymond James Financial Inc. acquired a new position in shares of Penguin Solutions during the second quarter worth about $37,000. IFP Advisors Inc acquired a new position in Penguin Solutions during the first quarter worth about $39,000. CWM LLC acquired a new position in Penguin Solutions during the first quarter worth about $39,000. Virtus Advisers LLC acquired a new position in Penguin Solutions during the first quarter worth about $43,000. Finally, UMB Bank n.a. acquired a new position in Penguin Solutions during the second quarter worth about $44,000.

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.