Quantum Co. (NASDAQ:QMCO) Sees Large Drop in Short Interest

Quantum Co. (NASDAQ:QMCO - Get Free Report) was the target of a large 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. Based on an average daily volume of 1,560,000 shares, the short-interest ratio is currently 0.9 days. Approximately 24.0% of the company's stock are short sold.

Insider Activity at Quantum

In other Quantum news, major shareholder Pacific Investment Management sold 962,127 shares of the business's stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $10.25, for a total transaction of $9,861,801.75. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO James J. Lerner sold 2,784 shares of Quantum stock in a transaction that occurred on 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 in the company, valued at approximately $1,069,683.20. This trade represents a 2.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 966,304 shares of company stock valued at $9,902,545. Corporate insiders own 4.50% of the company's stock.

Institutional Investors Weigh In On Quantum

Several large investors have recently made changes to their positions in QMCO. Allianz Asset Management GmbH lifted its position in Quantum by 87.8% during the 1st quarter. Allianz Asset Management GmbH now owns 962,127 shares of the company's stock valued at $13,835,000 after purchasing an additional 449,711 shares during the period. Bank of America Corp DE lifted its position in shares of Quantum by 125,408.3% in the fourth quarter. Bank of America Corp DE now owns 75,305 shares of the company's stock worth $4,060,000 after purchasing an additional 75,245 shares in the last quarter. UNICOM Systems Inc. bought a new stake in shares of Quantum in the fourth quarter worth $4,057,000. Itau Unibanco Holding S.A. bought a new stake in shares of Quantum in the fourth quarter worth $3,020,000. Finally, Jane Street Group LLC bought a new stake in shares of Quantum in the fourth quarter worth $1,812,000. Institutional investors own 63.66% of the company's stock.

Quantum Price Performance

Shares of Quantum stock traded up $0.06 on Wednesday, reaching $11.94. The stock had a trading volume of 965,379 shares, compared to its average volume of 1,443,633. Quantum has a fifty-two week low of $2.22 and a fifty-two week high of $90.64. The business's 50-day moving average price is $11.61 and its two-hundred day moving average price is $19.76.

About Quantum

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.