Quantum (NASDAQ:QMCO) Shares Gap Down - Here's What Happened

Key Points

• Quantum shares gapped down from a prior close of $22.25 to open at $21.31, later trading near $20.66 on volume of 186,439 shares.
• Analyst sentiment remains positive: four analysts rate the stock a Buy and one rates it a Sell, producing a “Moderate Buy” consensus and a $24 target price.
• Quantum beat quarterly expectations with $0.18 EPS versus a projected $0.17 loss and revenue of $80.8 million versus the $75.05 million estimate; institutional investors own 63.66% of the company.

Quantum Corporation (NASDAQ:QMCO - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $22.25, but opened at $21.31. Quantum shares last traded at $20.66, with a volume of 186,439 shares.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on QMCO shares. Lake Street Capital reiterated a "buy" rating and issued a $24.00 price target (up from $20.00) on shares of Quantum in a research note on Tuesday, August 11th. Litchfield Hills Research assumed coverage on Quantum in a research note on Monday, August 10th. They issued a "buy" rating on the stock. Wall Street Zen upgraded Quantum from a "hold" rating to a "buy" rating in a research report on Saturday, August 15th. Northland Securities raised Quantum from a "market perform" rating to an "outperform" rating and set a $24.00 target price for the company in a research note on Tuesday, August 11th. Finally, Needham & Company LLC initiated coverage on shares of Quantum in a report on Wednesday, June 3rd. They issued a "buy" rating for the company. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $24.00.

Quantum Stock Performance

The firm has a market cap of $840.77 million, a price-to-earnings ratio of -1.61 and a beta of 2.97. The business has a fifty day simple moving average of $13.64 and a 200-day simple moving average of $9.51.

Quantum (NASDAQ:QMCO - Get Free Report) last released 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 firm had revenue of $80.80 million during the quarter, compared to analyst estimates of $75.05 million. Quantum has set its Q2 2027 guidance at 0.020-0.220 EPS. On average, equities analysts anticipate that Quantum Corporation will post 0.31 earnings per share for the current year.

Hedge Funds Weigh In On Quantum

Several large investors have recently modified their holdings of the business. Geode Capital Management LLC grew its stake in shares of Quantum by 9.1% in the second quarter. Geode Capital Management LLC now owns 69,384 shares of the company's stock worth $692,000 after purchasing an additional 5,806 shares during the last quarter. Marshall Wace LLP acquired a new stake in Quantum in the second quarter valued at $1,775,000. Raymond James Financial Inc. bought a new position in Quantum during the 2nd quarter worth $46,000. Vanguard Group Inc. raised its position in Quantum by 18.3% during the 3rd quarter. Vanguard Group Inc. now owns 303,597 shares of the company's stock worth $3,012,000 after purchasing an additional 46,919 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in Quantum by 322.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,461 shares of the company's stock worth $34,000 after buying an additional 2,641 shares during the period. Institutional investors own 63.66% of the company's stock.

About Quantum

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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