Quantum (NASDAQ:QMCO) Shares Up 7.1% - Time to Buy?

Key Points

• Quantum shares surged 7.1% to $33.64, with the stock’s 50-day and 200-day moving averages at $20.36 and $13.03, respectively.
• Analyst sentiment is mixed but leans positive: four analysts rate Quantum a Buy and one rates it Sell, producing a consensus “Moderate Buy” rating and a $26.50 price target.
• Quantum exceeded quarterly expectations, reporting $0.18 in EPS versus a $0.17 loss estimate and $80.8 million in revenue versus the $75.05 million consensus forecast; institutional investors own 63.66% of the shares.

Quantum Corporation (NASDAQ:QMCO - Get Free Report) shares shot up 7.1% on Tuesday. The company traded as high as $33.98 and last traded at $33.64. 635,916 shares were traded during mid-day trading, a decline of 39% from the average daily volume of 1,037,310 shares. The stock had previously closed at $31.40.

Wall Street Analyst Weigh In

A number of brokerages recently commented on QMCO. 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. Needham & Company LLC started coverage on shares of Quantum in a research report on Wednesday, June 3rd. They issued a "buy" rating for the company. Weiss Ratings restated a "sell (d-)" rating on shares of Quantum in a report on Monday, September 21st. Lake Street Capital set a $29.00 price target on shares of Quantum and gave the stock a "buy" rating in a research note on Monday, September 14th. Finally, 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 report on Tuesday, August 11th. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $26.50.

Quantum Trading Up 6.4%

The stock has a fifty day simple moving average of $20.36 and a 200-day simple moving average of $13.03. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of -2.52 and a beta of 3.14.

Quantum (NASDAQ:QMCO - Get Free Report) last posted its quarterly earnings results on Monday, August 10th. The company reported $0.18 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. Sell-side analysts forecast that Quantum Corporation will post 0.31 earnings per share for the current fiscal year.

Institutional Trading of Quantum

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. R Squared Ltd acquired a new position in Quantum during the 1st quarter worth $58,000. Sona Asset Management US LLC bought a new stake in shares of Quantum during the first quarter worth $333,000. Squarepoint Ops LLC bought a new stake in shares of Quantum during the second quarter worth $372,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Quantum during the second quarter valued at $381,000. Finally, Man Group plc bought a new position in Quantum in the second quarter valued at about $755,000. 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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