Weiss Ratings Reaffirms "Sell (D-)" Rating for Quantum (NASDAQ:QMCO)

Key Points

• Weiss Ratings has reaffirmed a "Sell (D-)" rating for Quantum's stock (NASDAQ:QMCO) in a recent report, indicating it may not be a favorable investment at this time.
• Quantum's stock has experienced significant fluctuations, with a 52-week low of $2.88 and a high of $90.64, closing at $12.94 on Wednesday.
• Investment ratings are mixed for Quantum, with two analysts rating it as a Buy, two as a Hold, and one as a Sell, reflecting a consensus rating of "Hold" with a price target of $19.33.

Quantum (NASDAQ:QMCO - Get Free Report)'s stock had its "sell (d-)" rating reiterated by research analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

QMCO has been the subject of a number of other research reports. Wall Street Zen cut Quantum from a "hold" rating to a "sell" rating in a report on Saturday, August 30th. Needham & Company LLC set a $20.00 price objective on Quantum in a report on Monday, August 11th. Finally, Ascendiant Capital Markets restated a "buy" rating on shares of Quantum in a report on Wednesday, June 18th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $19.33.

Quantum Stock Performance

QMCO opened at $12.94 on Wednesday. The business has a fifty day moving average of $8.62 and a 200 day moving average of $10.06. Quantum has a 52-week low of $2.88 and a 52-week high of $90.64.

Institutional Investors Weigh In On Quantum

A number of hedge funds have recently made changes to their positions in QMCO. Allianz Asset Management GmbH lifted its stake in shares of Quantum by 87.8% during the 1st quarter. Allianz Asset Management GmbH now owns 962,127 shares of the company's stock worth $13,835,000 after purchasing an additional 449,711 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Quantum during the 1st quarter worth $284,000. AlphaQuest LLC purchased a new stake in shares of Quantum during the 1st quarter worth $139,000. Activest Wealth Management lifted its stake in shares of Quantum by 428,200.0% during the 1st quarter. Activest Wealth Management now owns 4,283 shares of the company's stock worth $62,000 after purchasing an additional 4,282 shares during the last quarter. Finally, Apollon Wealth Management LLC purchased a new stake in shares of Quantum during the 2nd quarter worth $107,000. 63.66% of the stock is currently owned by hedge funds and other institutional investors.

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.

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