BlackRock Inc. Purchases New Shares in Quantum Corporation $QMCO

Key Points

• BlackRock purchased 273,030 Quantum shares in the second quarter, valued at approximately $3.0 million and representing about 0.69% of the company. Institutional investors collectively own 63.66% of QMCO.
• Analyst sentiment is largely positive: four analysts rate Quantum a Buy and one rates it Sell, resulting in a “Moderate Buy” consensus and a $24.00 average price target.
• Quantum reported quarterly revenue of $80.8 million and earnings per share of $0.18, beating estimates for both metrics. The stock opened at $24.73, near its one-year high of $27.80.

BlackRock Inc. purchased a new stake in Quantum Corporation (NASDAQ:QMCO - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 273,030 shares of the company's stock, valued at approximately $3,003,000. BlackRock Inc. owned approximately 0.69% of Quantum as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its holdings in shares of Quantum by 337.5% during the third quarter. Bank of America Corp DE now owns 2,896 shares of the company's stock worth $29,000 after purchasing an additional 2,234 shares during the period. BNP Paribas Financial Markets lifted its position in Quantum by 322.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,461 shares of the company's stock worth $34,000 after buying an additional 2,641 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Quantum in the 2nd quarter worth approximately $46,000. Geode Capital Management LLC boosted its stake in shares of Quantum by 9.1% during the 2nd quarter. Geode Capital Management LLC now owns 69,384 shares of the company's stock valued at $692,000 after buying an additional 5,806 shares during the period. Finally, Millennium Management LLC purchased a new position in shares of Quantum during the 4th quarter valued at $73,000. 63.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

QMCO has been the topic of several recent research reports. Lake Street Capital reaffirmed a "buy" rating and set a $24.00 price objective (up from $20.00) on shares of Quantum in a research report on Tuesday, August 11th. Wall Street Zen upgraded shares of Quantum from a "hold" rating to a "buy" rating in a research note on Saturday, August 15th. Northland Securities upgraded shares of Quantum from a "market perform" rating to an "outperform" rating and set a $24.00 price target on the stock in a report on Tuesday, August 11th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Quantum in a research note on Wednesday, June 24th. Finally, Litchfield Hills Research began coverage on shares of Quantum in a report on Monday, August 10th. They issued a "buy" rating for the company. Four research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Quantum presently has an average rating of "Moderate Buy" and a consensus target price of $24.00.

Quantum Trading Up 1.8%

NASDAQ QMCO opened at $24.73 on Friday. The stock's 50 day moving average is $15.50 and its two-hundred day moving average is $10.71. Quantum Corporation has a 1-year low of $4.19 and a 1-year high of $27.80. The company has a market capitalization of $974.61 million, a price-to-earnings ratio of -1.87 and a beta of 3.14.

Quantum (NASDAQ:QMCO - Get Free Report) last issued its quarterly earnings data on Monday, August 10th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.35. The firm had revenue of $80.80 million for the quarter, compared to the consensus estimate of $75.05 million. Quantum has set its Q2 2027 guidance at 0.020-0.220 EPS. On average, analysts predict that Quantum Corporation will post 0.31 earnings per share for the current year.

Quantum Profile

Quantum Corporation NASDAQ: QMCO is a technology company that develops and delivers data management and storage solutions for businesses and organizations worldwide. The company's product portfolio includes hardware, software and cloud-based offerings designed to address backup, archive, primary storage and long-term retention needs. Quantum's solutions are geared toward data-intensive environments such as media and entertainment, surveillance, government, education and healthcare, where large volumes of digital content must be reliably stored, managed and accessed.

Quantum's flagship products include the StorNext® data management platform, which provides high-performance shared file storage and workflow acceleration, and the DXi® series of deduplication appliances, which optimize backup and recovery by reducing storage footprints and data transfer times.

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