Quantum Corporation (NASDAQ:QMCO - Get Free Report) traded up 11.4% during trading on Monday. The stock traded as high as $16.11 and last traded at $16.1210. 235,688 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 1,121,035 shares. The stock had previously closed at $14.47.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on the company. Lake Street Capital set a $29.00 target price on Quantum and gave the stock a "buy" rating in a research report on Monday, September 14th. Northland Securities upgraded Quantum from a "market perform" rating to an "outperform" rating and set a $24.00 price objective for the company in a research report on Tuesday, August 11th. Cantor Fitzgerald started coverage on Quantum in a report on Friday, October 23rd. They set an "overweight" rating and a $29.00 price objective for the company. Wall Street Zen upgraded shares of Quantum from a "hold" rating to a "buy" rating in a research report on Saturday, August 15th. Finally, Litchfield Hills Research initiated coverage on shares of Quantum in a research report on Monday, August 10th. They set a "buy" rating on the stock. Five equities 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, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $27.33.
Get Our Latest Research Report on QMCO
Quantum Stock Performance
The company has a 50-day moving average price of $24.06 and a 200-day moving average price of $13.29. The firm has a market capitalization of $651.84 million, a P/E ratio of -1.25 and a beta of 3.23.
Quantum (NASDAQ:QMCO - Get Free Report) last released its quarterly 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. Equities analysts predict that Quantum Corporation will post 0.31 EPS for the current year.
Hedge Funds Weigh In On Quantum
Large investors have recently bought and sold shares of the company. Man Group plc bought a new stake in shares of Quantum in the second quarter worth $755,000. Squarepoint Ops LLC acquired a new position in Quantum during the second quarter worth $372,000. Bank of America Corp DE boosted its holdings in Quantum by 730.5% during the second quarter. Bank of America Corp DE now owns 170,130 shares of the company's stock worth $1,871,000 after purchasing an additional 149,645 shares during the last quarter. BlackRock Inc. bought a new position in Quantum in the second quarter valued at $3,003,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in Quantum in the second quarter valued at $381,000. Institutional investors and hedge funds own 63.66% of the company's stock.
About Quantum
(
Get Free Report)
Quantum Corporation NASDAQ: QMCO provides data storage, management and protection solutions for organizations that generate and retain large volumes of unstructured data. Its offerings are designed to help customers store, protect, archive and access information across on-premises, cloud and hybrid environments.
The company's product portfolio has included Scalar tape libraries and LTO tape storage products, DXi deduplication and backup appliances, and software-defined storage solutions such as ActiveScale object storage.
Further Reading
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