Quantum Corporation (NASDAQ:QMCO - Get Free Report) shares were down 8.5% on Wednesday . The stock traded as low as $21.83 and last traded at $21.5210. Approximately 480,229 shares were traded during trading, a decline of 50% from the average daily volume of 959,610 shares. The stock had previously closed at $23.52.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on QMCO shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of Quantum in a research report on Wednesday, June 24th. Lake Street Capital restated a "buy" rating and issued a $24.00 price target (up from $20.00) on shares of Quantum in a report on Tuesday, August 11th. Needham & Company LLC initiated coverage on Quantum in a research note on Wednesday, June 3rd. 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 objective for the company in a report on Tuesday, August 11th. Finally, Wall Street Zen upgraded Quantum from a "hold" rating to a "buy" rating in a research report on Saturday. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $24.00.
Check Out Our Latest Stock Report on QMCO
Quantum Stock Down 6.0%
The stock has a fifty day moving average price of $13.14 and a two-hundred day moving average price of $9.19. The company has a market capitalization of $871.20 million, a price-to-earnings ratio of -1.67 and a beta of 2.97.
Quantum (NASDAQ:QMCO - Get Free Report) last issued its quarterly earnings results on Monday, August 10th. The company reported $0.18 EPS for the quarter, topping analysts' consensus estimates of ($0.17) by $0.35. The firm 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, research analysts forecast that Quantum Corporation will post -0.28 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of America Corp DE raised its position in shares of Quantum by 730.5% in the 2nd quarter. Bank of America Corp DE now owns 170,130 shares of the company's stock worth $1,871,000 after buying an additional 149,645 shares during the period. Man Group plc purchased a new stake in Quantum during the second quarter valued at about $755,000. Manatuck Hill Partners LLC acquired a new stake in Quantum during the second quarter worth about $3,850,000. Two Seas Capital LP acquired a new stake in Quantum during the second quarter worth about $27,374,000. Finally, BlackRock Inc. acquired a new stake in Quantum during the second quarter worth about $3,003,000. Institutional investors and hedge funds own 63.66% of the company's stock.
About Quantum
(
Get Free Report)
Quantum Corporation NASDAQ: QMCO is a technology company that develops and delivers data management and storage solutions for businesses and organizations worldwide. The company's product portfolio includes hardware, software and cloud-based offerings designed to address backup, archive, primary storage and long-term retention needs. Quantum's solutions are geared toward data-intensive environments such as media and entertainment, surveillance, government, education and healthcare, where large volumes of digital content must be reliably stored, managed and accessed.
Quantum's flagship products include the StorNext® data management platform, which provides high-performance shared file storage and workflow acceleration, and the DXi® series of deduplication appliances, which optimize backup and recovery by reducing storage footprints and data transfer times.
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