Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. 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 $3.7 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 $3.7 million.
As published in their initiating research note from Goldman on November 01, 2024, Penguin Solutions Inc [PENG] has been a Buy and the price target has been revised to $21. Analysts at Needham resumed the stock at ‘”a Buy”‘ outlook in a report released in mid October. Earlier on June 30, 2022, Needham resumed its rating. Their recommendation was “a Buy” for PENG stock.
Analyzing PENG Stock Performance
During the last five days, there has been a surge of approximately 11.84%. Over the course of the year, Penguin Solutions Inc shares have dropped approximately -7.71%. Shares of the company reached a 52-week high of $29.81 on 07/12/24 and a 52-week low of $14.87 on 10/31/24. A 50-day SMA is recorded $18.55, while a 200-day SMA reached $20.98. Nevertheless, trading volume fell to 1.43 million shares from 0.78 million shares the previous day.
Support And Resistance Levels for Penguin Solutions Inc (PENG)
According to the 24-hour chart, there is a support level at 16.87, which, if violated, would cause prices to drop to 16.27. In the upper region, resistance lies at 17.84. The next price resistance is at 18.22. RSI (Relative Strength Index) is 51.38 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.10, which suggests the price will increase in the coming days. Percent R is at 5.45%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
