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

Key Points

• Quantum shares reached a new 52-week high of $34.68, closing well above their prior close at $31.40. The stock’s average analyst rating is “Moderate Buy,” although the $26.50 average price target is below its current trading level.
• Quantum reported quarterly EPS of $0.18, exceeding the consensus estimate of a $0.17 loss, while revenue of $80.8 million also surpassed expectations of $75.05 million.
• Institutional ownership stands at 63.66%, with several hedge funds—including Alyeska Investment Group and Two Seas Capital—taking new positions during the second quarter.

Quantum Corporation (NASDAQ:QMCO - Get Free Report) hit a new 52-week high on Wednesday. The company traded as high as $34.68 and last traded at $32.86, with a volume of 1966167 shares. The stock had previously closed at $31.40.

Analyst Ratings Changes

A number of research firms have issued reports on QMCO. Litchfield Hills Research started coverage on Quantum in a 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 Monday, September 21st. Needham & Company LLC assumed coverage on Quantum in a research report on Wednesday, June 3rd. They set a "buy" rating for the company. Wall Street Zen upgraded Quantum from a "hold" rating to a "buy" rating in a report on Saturday, August 15th. Finally, Northland Securities raised Quantum from a "market perform" rating to an "outperform" rating and set a $24.00 target price on the stock in a research report on Tuesday, August 11th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $26.50.

Quantum Price Performance

The firm has a market capitalization of $1.30 billion, a P/E ratio of -2.48 and a beta of 3.14. The firm's 50 day moving average is $20.79 and its two-hundred day moving average is $13.22.

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

Institutional Investors Weigh In On Quantum

Hedge funds have recently bought and sold shares of the stock. Alyeska Investment Group L.P. acquired a new stake in Quantum during the 2nd quarter worth approximately $29,193,000. Two Seas Capital LP acquired a new stake in Quantum during the second quarter worth about $27,374,000. Manatuck Hill Partners LLC acquired a new stake in Quantum during the second quarter worth about $3,850,000. BlackRock Inc. bought a new position in Quantum in the 2nd quarter valued at about $3,003,000. Finally, Bank of America Corp DE increased its holdings in Quantum by 730.5% in the 2nd quarter. Bank of America Corp DE now owns 170,130 shares of the company's stock valued at $1,871,000 after buying an additional 149,645 shares during the period. 63.66% of the stock is currently owned by institutional investors and hedge funds.

Quantum Company Profile

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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