Quantum (NASDAQ:QMCO) Trading Up 4.1% - Here's Why

Key Points

• Quantum shares rose 4.1% to approximately $23.76, although trading volume was 92% below the stock’s average daily volume.
• Analyst sentiment is generally positive: four analysts rate the stock a Buy and one rates it a Sell, producing a consensus rating of Moderate Buy and an average price target of $26.50.
• Quantum exceeded quarterly expectations, reporting $0.18 in EPS versus estimates of a $0.17 loss and revenue of $80.8 million versus the $75.05 million consensus; institutional ownership stands at 63.66%.

Shares of Quantum Corporation (NASDAQ:QMCO - Get Free Report) traded up 4.1% during trading on Tuesday . The stock traded as high as $23.99 and last traded at $23.7550. Approximately 82,279 shares changed hands during trading, a decline of 92% from the average daily volume of 969,264 shares. The stock had previously closed at $22.83.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Lake Street Capital set a $29.00 price objective on shares of Quantum and gave the stock a "buy" rating in a research report on Monday. Wall Street Zen upgraded Quantum from a "hold" rating to a "buy" rating in a research report on Saturday, August 15th. Litchfield Hills Research initiated coverage on Quantum in a research note on Monday, August 10th. They issued a "buy" rating for the company. Northland Securities raised Quantum from a "market perform" rating to an "outperform" rating and set a $24.00 price target for the company in a report on Tuesday, August 11th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Quantum in a research report on Wednesday, June 24th. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Quantum has a consensus rating of "Moderate Buy" and a consensus target price of $26.50.

Quantum Trading Up 1.3%

The company has a market cap of $911.16 million, a PE ratio of -1.74 and a beta of 3.14. The firm's fifty day moving average is $17.06 and its 200 day moving average is $11.52.

Quantum (NASDAQ:QMCO - Get Free Report) last posted its quarterly earnings data 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 company 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. As a group, sell-side analysts anticipate that Quantum Corporation will post 0.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Alyeska Investment Group L.P. purchased a new position in shares of Quantum in the second quarter valued at approximately $29,193,000. Two Seas Capital LP acquired a new stake in shares of Quantum in the second quarter worth approximately $27,374,000. Manatuck Hill Partners LLC purchased a new stake in shares of Quantum during the second quarter worth approximately $3,850,000. BlackRock Inc. purchased a new stake in shares of Quantum during the second quarter worth approximately $3,003,000. Finally, Bank of America Corp DE raised its stake in Quantum by 730.5% in the 2nd 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. 63.66% of the stock is owned by hedge funds and other institutional investors.

About Quantum

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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