Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Penguin Solutions Inc. shares valued at $266,951 were sold by Pacheco Jack A on Sep 20 ’24. At $20.02 per share, Pacheco Jack A sold 13,334 shares. The insider’s holdings dropped to 211,896 shares worth approximately $3.23 million following the completion of this transaction.
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Also, Pacheco Jack A sold 13,333 shares, netting a total of over 281,822 in proceeds. Following the sale of shares at $21.14 each, the insider now holds 211,896 shares.
Before that, Pacheco Jack A had sold 13,333 shares from its account. In a trade valued at $308,835, the EVP, COO, Pres, Mem Solutions traded Penguin Solutions Inc. shares for $23.16 each. Upon closing the transaction, the insider’s holdings decreased to 13,333 shares, worth approximately $3.23 million.
As published in a research note from Needham on October 16, 2024, Penguin Solutions Inc. [PENG] has been retained to a Buy and the price target has been revised to $25. As of June 30, 2022, Needham has reiterated its “Buy” rating for PENG. Earlier on December 27, 2021, Rosenblatt resumed its rating. Their recommendation was “a Buy” for PENG stock.
Analyzing PENG Stock Performance
During the last five days, there has been a drop of approximately -2.50%. Over the course of the year, Penguin Solutions Inc. shares have dropped approximately -19.55%. Shares of the company reached a 52-week high of $29.81 on 07/12/24 and a 52-week low of $15.06 on 10/16/24. A 50-day SMA is recorded $19.53, while a 200-day SMA reached $21.26.
Support And Resistance Levels for Penguin Solutions Inc. (PENG)
According to the 24-hour chart, there is a support level at 15.00, which, if violated, would cause prices to drop to 14.76. In the upper region, resistance lies at 15.56. The next price resistance is at 15.88. RSI (Relative Strength Index) is 26.84 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.02, which suggests the price will decrease in the coming days. Percent R is at 97.41%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
