Penguin Solutions Inc (NASDAQ:PENG) price on Friday, February 28, rose 2.00% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $19.93.
A look at the stock’s price movement, the close in the last trading session was $19.54. Turning to its 52-week performance, $29.81 and $14.87 were the 52-week high and 52-week low respectively. Overall, PENG moved 3.26% over the past month.
Penguin Solutions Inc’s market cap currently stands at around $1.06 billion, with investors looking forward to this quarter’s earnings report slated for in April.
Analysts have a consensus estimate of 344.44M for the company’s revenue for the quarter, with a low and high estimate of 335M and 350.13M respectively. The average forecast suggests up to a 20.93% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 1.36B, representing a 16.16% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that PENG is a 50% Buy. On the other hand, the stock is on average a Hold as suggested by medium term indicators while long term indicators are putting the stock in Hold category.
PENG’s current price about -4.47% and -1.04% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 44.69, while 7-day volatility ratio is 4.49% and 3.57% in the 30-day chart. Further, Penguin Solutions Inc (PENG) has a beta value of 1.69, and an average true range (ATR) of 0.84. Analysts have given the company’s stock an average 52-week price target of $24, forecast between a low of $21 and high of $27. Looking at the price targets, the low is -5.37% off current price level while to achieve the yearly target high, price needs to move -35.47%. Nonetheless, investors will most likely welcome a -20.42% jump to $24 which is the analysts’ median price.
If we refocus on Penguin Solutions Inc (NASDAQ:PENG), historical trading data shows that trading volumes averaged 887.01K over the past 3 months. The company’s latest data on shares outstanding shows there are 53.44 million shares.
The 14.83% of Penguin Solutions Inc’s shares are in the hands of company insiders while institutional holders own 110.14% of the company’s shares. Current price change has pushed the stock 3.86% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the PENG stock continues to rise going into the next quarter.
