Quantum (NASDAQ:QMCO) Reaches New 12-Month High - Still a Buy?

Key Points

• Quantum shares reached a new 52-week high of $29.15 and last traded at $25.97, up from the prior close of $25.65. The stock’s 50-day and 200-day moving averages are $19.13 and $12.49, respectively.
• Analyst sentiment is broadly positive, with four Buy ratings and one Sell rating, producing a consensus “Moderate Buy” rating and a $26.50 price target.
• Quantum exceeded quarterly expectations, reporting $0.18 in EPS versus the expected $0.17 loss and revenue of $80.8 million versus $75.05 million expected. Institutional investors own 63.66% of the company, including newly acquired stakes from several hedge funds.

Quantum Corporation (NASDAQ:QMCO - Get Free Report) reached a new 52-week high during trading on Thursday . The company traded as high as $29.15 and last traded at $25.97, with a volume of 3682163 shares trading hands. The stock had previously closed at $25.65.

Analyst Upgrades and Downgrades

QMCO has been the topic of several analyst reports. Needham & Company LLC initiated coverage on Quantum in a research note on Wednesday, June 3rd. They issued a "buy" rating on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of Quantum in a research note on Monday. Lake Street Capital set a $29.00 target price on shares of Quantum and gave the company a "buy" rating in a report on Monday, September 14th. Litchfield Hills Research began coverage on Quantum in a research report on Monday, August 10th. They set a "buy" rating on the stock. Finally, Wall Street Zen raised Quantum from a "hold" rating to a "buy" rating in a research note on Saturday, August 15th. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $26.50.

Quantum Trading Up 1.2%

The firm has a 50 day moving average price of $19.13 and a 200-day moving average price of $12.49. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of -1.96 and a beta of 3.14.

Quantum (NASDAQ:QMCO - Get Free Report) last announced its earnings results on Monday, August 10th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.17) by $0.35. The business had revenue of $80.80 million for the quarter, compared to analyst estimates of $75.05 million. Quantum has set its Q2 2027 guidance at 0.020-0.220 EPS. As a group, equities analysts expect that Quantum Corporation will post 0.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Quantum

A number of institutional investors have recently modified their holdings of QMCO. Man Group plc acquired a new position in Quantum in the 2nd quarter valued at $755,000. Two Seas Capital LP acquired a new position in Quantum in the second quarter valued at $27,374,000. Alyeska Investment Group L.P. acquired a new position in Quantum in the second quarter valued at $29,193,000. Susquehanna Fundamental Investments LLC purchased a new stake in Quantum in the 2nd quarter valued at about $381,000. Finally, Sona Asset Management US LLC purchased a new stake in Quantum in the 1st quarter valued at about $333,000. Institutional investors and hedge funds own 63.66% of the company's stock.

About Quantum

Quantum Corporation NASDAQ: QMCO is a data storage and management company that provides technology for organizations handling large volumes of digital content. Its solutions are designed to help customers store, protect, manage and access unstructured data, including video, images, scientific information and other content-intensive files.

The company's product portfolio has included Scalar tape libraries and tape storage systems, DXi deduplication appliances, and software for data backup, archiving and disaster recovery.

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