Quantum (NASDAQ:QMCO) Hits New 52-Week High - Here's What Happened

Key Points

• Quantum shares reached a new 52-week high of $35.65 and last traded at $34.01, with about 1.65 million shares changing hands.
• Analyst sentiment is broadly positive, with four Buy ratings and one Sell rating producing a “Moderate Buy” consensus and an average price target of $26.50.
• Quantum exceeded quarterly expectations, reporting $0.18 EPS versus a consensus loss estimate of $0.17 and revenue of $80.8 million versus $75.05 million expected; institutional investors own 63.66% of the stock.

Quantum Corporation (NASDAQ:QMCO - Get Free Report) hit a new 52-week high on Tuesday. The stock traded as high as $35.65 and last traded at $34.01, with a volume of 1648312 shares. The stock had previously closed at $34.50.

Wall Street Analyst Weigh In

QMCO has been the subject of a number of recent analyst reports. Weiss Ratings restated a "sell (d-)" rating on shares of Quantum in a report on Monday, September 21st. Wall Street Zen upgraded Quantum from a "hold" rating to a "buy" rating in a research report on Saturday, August 15th. Lake Street Capital set a $29.00 target price on shares of Quantum and gave the company a "buy" rating in a research note on Monday, September 14th. 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. Finally, Litchfield Hills Research assumed coverage on shares of Quantum in a research note on Monday, August 10th. They issued a "buy" rating on the stock. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Quantum presently has a consensus rating of "Moderate Buy" and an average price target of $26.50.

Quantum Stock Performance

The firm's fifty day moving average price is $22.53 and its 200 day moving average price is $14.00. The firm has a market cap of $1.34 billion, a P/E ratio of -2.57 and a beta of 3.08.

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 business 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. As a group, analysts expect that Quantum Corporation will post 0.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. R Squared Ltd bought a new stake in Quantum during the first quarter valued at about $58,000. Sona Asset Management US LLC purchased a new stake in shares of Quantum during the first quarter valued at about $333,000. Squarepoint Ops LLC bought a new stake in shares of Quantum in the 2nd quarter valued at about $372,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Quantum in the 2nd quarter valued at about $381,000. Finally, Man Group plc purchased a new position in shares of Quantum in the 2nd quarter worth approximately $755,000. 63.66% of the stock is owned by institutional investors.

Quantum Company Profile

Quantum Corporation NASDAQ: QMCO provides data storage, management and protection solutions for organizations that generate and retain large volumes of unstructured data. Its customers include businesses, media and entertainment companies, government agencies, research institutions and other organizations that require long-term data preservation, rapid access and secure information management.

The company's portfolio includes tape libraries and drives based on Linear Tape-Open (LTO) technology, disk-based backup and deduplication systems, and software for managing files, objects and data workflows.

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