Quantum (NASDAQ:QMCO) Stock Falls 17.1% - What's Next?

Key Points

• Quantum shares fell 17.1% in Thursday’s midday trading, dropping from a prior close of $16.77 to about $13.90. Trading volume was 68% below its average.
• Despite the decline, analysts’ consensus rating is Moderate Buy, with an average price target of $27.33; five analysts rate the stock Buy and one rates it Sell.
• Quantum reported quarterly EPS of $0.18, beating the $0.17 loss analysts expected, and revenue of $80.8 million versus a $75.05 million estimate.

Quantum Corporation (NASDAQ:QMCO - Get Free Report)'s share price traded down 17.1% during mid-day trading on Thursday. The company traded as low as $13.90 and last traded at $13.9020. 358,481 shares changed hands during trading, a decline of 68% from the average session volume of 1,116,158 shares. The stock had previously closed at $16.77.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on QMCO shares. Cantor Fitzgerald started coverage on shares of Quantum in a report on Friday, October 23rd. They set an "overweight" rating and a $29.00 price objective for the company. Northland Securities raised shares of Quantum from a "market perform" rating to an "outperform" rating and set a $24.00 price objective on the stock in a research report on Tuesday, August 11th. Lake Street Capital set a $29.00 price target on Quantum and gave the stock a "buy" rating in a research note on Monday, September 14th. Litchfield Hills Research started coverage on Quantum in a research report on Monday, August 10th. They set a "buy" rating on the stock. Finally, Wall Street Zen raised shares of Quantum from a "hold" rating to a "buy" rating in a report on Saturday, August 15th. Five research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $27.33.

Quantum Price Performance

The business has a 50 day moving average of $24.43 and a 200 day moving average of $13.23. The company has a market cap of $560.76 million, a PE ratio of -1.07 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, topping analysts' consensus estimates of ($0.17) by $0.35. The company had revenue of $80.80 million during the quarter, compared to the consensus estimate 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 EPS for the current fiscal year.

Institutional Trading of Quantum

Hedge funds and other institutional investors have recently modified their holdings of the business. Man Group plc purchased a new stake in Quantum in the second quarter worth about $755,000. Squarepoint Ops LLC purchased a new position in shares of Quantum during the second quarter valued at approximately $372,000. Bank of America Corp DE lifted its holdings in shares of Quantum by 730.5% during the second quarter. Bank of America Corp DE now owns 170,130 shares of the company's stock valued at $1,871,000 after purchasing an additional 149,645 shares during the last quarter. BlackRock Inc. bought a new stake in shares of Quantum in the 2nd quarter worth approximately $3,003,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Quantum in the 2nd quarter worth approximately $381,000. 63.66% of the stock is owned by hedge funds and other institutional investors.

Quantum Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.