PENG (NASDAQ:PENG) Shares Gap Up – Should You Buy?

Shares of PENG (NASDAQ:PENG) gapped up before the market opened on Friday . The stock had previously closed at $15.05, but opened at $15.66. PENG shares last traded at $16.02, with a volume of 135,964 shares.

Analysts Set New Price Targets

Several brokerages have issued reports on PENG. Stifel Nicolaus cut their price target on PENG from $32.00 to $27.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. The Goldman Sachs Group began coverage on PENG in a report on Friday. They issued a “buy” rating and a $21.00 target price on the stock. Needham & Company LLC decreased their price target on shares of PENG from $35.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Finally, Barclays dropped their price objective on shares of PENG from $27.00 to $22.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th.

PENG Stock Up 6.1 %

The firm has a market cap of $851.04 million, a price-to-earnings ratio of -15.97 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 Company Profile

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.