Quantum Corporation (NASDAQ:QMCO) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Quantum Corporation (NASDAQ:QMCO) maintains a consensus rating of "Moderate Buy", with two analysts recommending a buy and two holding the stock.
• Recent trading saw Quantum stock rise 7.7%, reaching $11.76, significantly above its one-year low of $2.88.
• Institutional investors hold 63.66% of Quantum's stock, with notable acquisitions from companies like Allianz Asset Management and Marshall Wace LLP.

Shares of Quantum Corporation (NASDAQ:QMCO - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the four brokerages that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $19.3333.

Several research analysts recently weighed in on QMCO shares. Wall Street Zen lowered Quantum from a "hold" rating to a "sell" rating in a research report on Saturday, August 30th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Quantum in a research report on Saturday, September 27th. Needham & Company LLC set a $20.00 price target on Quantum in a research report on Monday, August 11th. Finally, Ascendiant Capital Markets restated a "buy" rating on shares of Quantum in a research report on Wednesday, June 18th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of QMCO. Allianz Asset Management GmbH boosted its holdings 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 purchasing an additional 449,711 shares during the period. Marshall Wace LLP acquired a new stake in shares of Quantum during the second quarter worth about $1,775,000. Sassicaia Capital Advisers LLC acquired a new stake in shares of Quantum during the second quarter worth about $232,000. Virtu Financial LLC acquired a new stake in shares of Quantum during the first quarter worth about $284,000. Finally, Apollon Wealth Management LLC acquired a new stake in shares of Quantum during the second quarter worth about $107,000. 63.66% of the stock is currently owned by hedge funds and other institutional investors.

Quantum Trading Up 7.7%

Quantum stock traded up $0.84 during mid-day trading on Friday, hitting $11.76. The company's stock had a trading volume of 5,380,100 shares, compared to its average volume of 1,584,533. Quantum has a 1 year low of $2.88 and a 1 year high of $90.64. The stock's fifty day moving average is $8.28 and its two-hundred day moving average is $10.21.

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.

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