Quantum (NASDAQ:QMCO) Shares Down 4.4% - Here's Why

Key Points

• Quantum shares fell 4.4% to $23.115 in mid-day trading, with volume down 92% from its average. The stock has high volatility, reflected in its 3.13 beta.
• Analyst sentiment remains positive overall: four analysts rate Quantum a Buy and one rates it a Sell, producing a “Moderate Buy” consensus and a $24.00 target price.
• Quantum beat quarterly expectations, reporting $0.18 in EPS versus an estimated $0.17 loss and revenue of $80.8 million versus $75.05 million expected. Institutional investors own 63.66% of the company, with several funds recently increasing or initiating positions.

Quantum Corporation (NASDAQ:QMCO - Get Free Report) shares traded down 4.4% on Wednesday . The stock traded as low as $23.76 and last traded at $23.1150. 80,035 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 969,364 shares. The stock had previously closed at $24.17.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on QMCO. Lake Street Capital restated a "buy" rating and issued a $24.00 target price (up from $20.00) on shares of Quantum in a report on Tuesday, August 11th. Weiss Ratings restated a "sell (d-)" rating on shares of Quantum in a research report on Wednesday, June 24th. Litchfield Hills Research assumed coverage on Quantum in a report on Monday, August 10th. They issued 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 upgraded Quantum from a "market perform" rating to an "outperform" rating and set a $24.00 price target for the company in a research report on Tuesday, August 11th. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Quantum has a consensus rating of "Moderate Buy" and a consensus target price of $24.00.

Quantum Stock Performance

The stock has a market capitalization of $901.82 million, a PE ratio of -1.73 and a beta of 3.13. The business has a 50 day moving average of $14.82 and a two-hundred day moving average of $10.36.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of QMCO. Bank of America Corp DE increased its position in shares of 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 acquiring an additional 2,234 shares during the period. BNP Paribas Financial Markets raised its holdings in shares of Quantum by 322.1% during the third quarter. BNP Paribas Financial Markets now owns 3,461 shares of the company's stock worth $34,000 after purchasing an additional 2,641 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Quantum during the second quarter valued at $46,000. Millennium Management LLC acquired a new position in Quantum during the fourth quarter valued at $73,000. Finally, XTX Topco Ltd purchased a new stake in Quantum in the fourth quarter valued at $77,000. Institutional investors and hedge funds own 63.66% of the company's stock.

Quantum Company Profile

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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