Manatuck Hill Partners LLC Takes Position in Quantum Corporation $QMCO

Key Points

• Manatuck Hill Partners purchased 350,000 Quantum shares worth approximately $3.85 million, giving it a 0.89% stake and making QMCO about 1.3% of its portfolio.
• Institutional investors own 63.66% of Quantum, with several firms increasing their positions during recent quarters.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and a $24 price target. Quantum also exceeded quarterly expectations, reporting $0.18 EPS versus estimates of a $0.17 loss and revenue of $80.8 million versus the $75.05 million consensus.

Manatuck Hill Partners LLC purchased a new position in shares of Quantum Corporation (NASDAQ:QMCO - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 350,000 shares of the company's stock, valued at approximately $3,850,000. Quantum comprises approximately 1.3% of Manatuck Hill Partners LLC's investment portfolio, making the stock its 24th biggest holding. Manatuck Hill Partners LLC owned approximately 0.89% of Quantum as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in QMCO. Bank of America Corp DE increased its stake in Quantum by 337.5% in the 3rd quarter. Bank of America Corp DE now owns 2,896 shares of the company's stock valued at $29,000 after buying an additional 2,234 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in shares of 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 during the last quarter. NBC Securities Inc. purchased a new position in shares of Quantum in the 4th quarter worth approximately $26,000. Raymond James Financial Inc. bought a new position in shares of Quantum in the second quarter valued at approximately $46,000. Finally, Geode Capital Management LLC grew its holdings in shares of Quantum by 9.1% in the second quarter. Geode Capital Management LLC now owns 69,384 shares of the company's stock valued at $692,000 after acquiring an additional 5,806 shares in the last quarter. 63.66% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

QMCO has been the topic of a number of recent analyst reports. Lake Street Capital reiterated a "buy" rating and set a $24.00 target price (up from $20.00) on shares of Quantum in a research note on Tuesday, August 11th. Litchfield Hills Research started coverage on shares of Quantum in a research report on Monday, August 10th. They set a "buy" rating for the company. Weiss Ratings restated a "sell (d-)" rating on shares of Quantum in a report on Wednesday, June 24th. Wall Street Zen raised shares of Quantum from a "hold" rating to a "buy" rating in a research report on Saturday, August 15th. Finally, Needham & Company LLC began coverage on shares of Quantum in a research note on Wednesday, June 3rd. They issued a "buy" rating on the stock. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $24.00.

Quantum Price Performance

Quantum stock opened at $22.39 on Wednesday. The firm has a market capitalization of $882.39 million, a P/E ratio of -1.69 and a beta of 2.97. Quantum Corporation has a one year low of $4.19 and a one year high of $27.80. The business has a fifty day moving average price of $13.95 and a 200-day moving average price of $9.74.

Quantum (NASDAQ:QMCO - Get Free Report) last released its quarterly earnings data on Monday, August 10th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.17) by $0.35. The company 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. Sell-side analysts expect that Quantum Corporation will post 0.31 earnings per share for the current fiscal year.

About Quantum

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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