Quantum Co. (NASDAQ:QMCO) Short Interest Update

Quantum Co. (NASDAQ:QMCO - Get Free Report) was the recipient of a significant drop in short interest in May. As of May 15th, there was short interest totalling 1,430,000 shares, a drop of 16.4% from the April 30th total of 1,710,000 shares. Currently, 24.0% of the company's stock are short sold. Based on an average trading volume of 1,560,000 shares, the days-to-cover ratio is presently 0.9 days.

Insider Activity at Quantum

In other news, CEO James J. Lerner sold 2,784 shares of the company's stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $9.65, for a total transaction of $26,865.60. Following the completion of the transaction, the chief executive officer now directly owns 110,848 shares of the company's stock, valued at approximately $1,069,683.20. This represents a 2.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Pacific Investment Management sold 962,127 shares of the stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $10.25, for a total value of $9,861,801.75. The disclosure for this sale can be found here. Insiders have sold a total of 966,304 shares of company stock valued at $9,902,545 over the last 90 days. 4.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Quantum

Several hedge funds and other institutional investors have recently bought and sold shares of QMCO. Allianz Asset Management GmbH boosted its stake in Quantum by 87.8% in the first quarter. Allianz Asset Management GmbH now owns 962,127 shares of the company's stock valued at $13,835,000 after acquiring an additional 449,711 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Quantum by 125,408.3% in the 4th quarter. Bank of America Corp DE now owns 75,305 shares of the company's stock valued at $4,060,000 after purchasing an additional 75,245 shares during the last quarter. UNICOM Systems Inc. acquired a new stake in shares of Quantum in the 4th quarter valued at about $4,057,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Quantum in the 4th quarter valued at about $3,020,000. Finally, Jane Street Group LLC purchased a new position in Quantum during the 4th quarter worth approximately $1,812,000. 63.66% of the stock is currently owned by institutional investors and hedge funds.

Quantum Stock Performance

QMCO traded up $0.28 on Friday, reaching $10.63. The company's stock had a trading volume of 1,523,277 shares, compared to its average volume of 1,461,894. Quantum has a fifty-two week low of $2.22 and a fifty-two week high of $90.64. The stock has a 50 day moving average of $11.42 and a two-hundred day moving average of $19.81.

Quantum Company Profile

Quantum Corporation provides products for storing and managing digital video and unstructured data in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers Myriad All-Flash File and Object Storage Software for high performance enterprise unstructured data applications such as AI, machine learning, and data analytics; Unified Surveillance Platform Software that unified compute and storage for video surveillance recording, storage, and analytics; StorNext Hybrid Flash/Disk File Storage Software for video editing, post-production, and streaming applications, as well as digital file archives; and CatDV Asset Management Software for indexing, cataloging, enriching video, audio, and image files, and workflow orchestration.