Quantum (NASDAQ:QMCO) Shares Gap Up - What's Next?

Key Points

• Quantum shares gapped higher, opening at $33.19 versus a prior close of $31.72, before trading near $32.16 on volume of about 502,466 shares.
• Analyst sentiment is broadly positive: four analysts rate the stock Buy and one rates it Sell, producing a “Moderate Buy” consensus and an average price target of $26.50.
• Quantum exceeded quarterly expectations with $0.18 EPS versus a forecasted loss of $0.17 and revenue of $80.8 million versus $75.05 million expected; institutional investors own 63.66% of its shares.

Quantum Corporation (NASDAQ:QMCO - Get Free Report)'s share price gapped up prior to trading on Thursday. The stock had previously closed at $31.72, but opened at $33.19. Quantum shares last traded at $32.1610, with a volume of 502,466 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Northland Securities upgraded Quantum from a "market perform" rating to an "outperform" rating and set a $24.00 target price for the company in a report on Tuesday, August 11th. Lake Street Capital set a $29.00 price target on shares of Quantum and gave the company a "buy" rating in a report on Monday, September 14th. Needham & Company LLC initiated coverage on shares of Quantum in a research report on Wednesday, June 3rd. They set a "buy" rating on the stock. Litchfield Hills Research initiated coverage on shares of Quantum in a research note on Monday, August 10th. They set a "buy" rating for the company. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Quantum in a research note on Monday, September 21st. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Quantum has an average rating of "Moderate Buy" and an average target price of $26.50.

Quantum Price Performance

The firm has a 50-day simple moving average of $21.19 and a 200 day simple moving average of $13.41. The company has a market capitalization of $1.28 billion, a PE ratio of -2.45 and a beta of 3.14.

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

Institutional Trading of Quantum

Several large investors have recently bought and sold shares of the company. R Squared Ltd acquired a new position in shares of Quantum during the first quarter worth $58,000. Sona Asset Management US LLC purchased a new stake in Quantum during the 1st quarter worth $333,000. Squarepoint Ops LLC acquired a new position in Quantum in the 2nd quarter worth $372,000. Susquehanna Fundamental Investments LLC acquired a new position in Quantum in the 2nd quarter worth $381,000. Finally, Man Group plc purchased a new position in Quantum in the 2nd quarter valued at about $755,000. Institutional investors and hedge funds own 63.66% of the company's stock.

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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