Quantum Corp (OTCMKTS:QMCO) – Research analysts at B. Riley decreased their Q2 2022 earnings estimates for Quantum in a note issued to investors on Thursday, June 25th. B. Riley analyst C. Ellis now forecasts that the company will post earnings of $0.06 per share for the quarter, down from their prior estimate of $0.10. B. Riley has a “Buy” rating and a $7.00 price objective on the stock.
A number of other brokerages also recently commented on QMCO. Zacks Investment Research upgraded Quantum from a “hold” rating to a “buy” rating and set a $5.50 target price on the stock in a research note on Friday, June 26th. Lake Street Capital dropped their price objective on shares of Quantum from $8.00 to $5.00 and set a “buy” rating on the stock in a research note on Tuesday, April 7th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $5.83.
QMCO stock opened at $3.94 on Monday. Quantum has a 52 week low of $1.26 and a 52 week high of $8.52. The firm has a 50 day moving average of $4.05 and a 200 day moving average of $4.98.
Quantum (OTCMKTS:QMCO) last announced its quarterly earnings data on Wednesday, June 24th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.07). Quantum had a negative return on equity of 1.24% and a negative net margin of 2.58%. The firm had revenue of $88.22 million during the quarter, compared to the consensus estimate of $87.00 million.
In other news, insider Brc Partners Opportunity Fund, acquired 9,036 shares of the firm’s stock in a transaction on Friday, April 24th. The shares were bought at an average price of $3.95 per share, for a total transaction of $35,692.20. Insiders own 18.60% of the company’s stock.
Several large investors have recently bought and sold shares of QMCO. Jane Street Group LLC purchased a new position in shares of Quantum during the 1st quarter worth $69,000. Fondren Management LP acquired a new position in Quantum in the 1st quarter valued at about $457,000. Portolan Capital Management LLC purchased a new stake in shares of Quantum in the 1st quarter valued at approximately $1,851,000. White Pine Capital LLC acquired a new stake in shares of Quantum during the 1st quarter worth approximately $119,000. Finally, Adirondack Research & Management Inc. purchased a new stake in shares of Quantum during the 1st quarter valued at approximately $276,000. 0.54% of the stock is owned by hedge funds and other institutional investors.
Quantum Corporation provides scale-out storage, archive, and data protection solutions for small businesses and multi-national enterprises in the Americas, Europe, and the Asia Pacific. The company offers StorNext 5 software and hardware that offer file sharing and archiving in purpose-built configurations of metadata controllers, expansion appliances, and disk and archive enabled libraries; Xcellis product, which optimizes workflow and shared access by combining functions into a compact, space, and energy-saving solution; and Lattus Object Storage solutions that enable high volumes of data to be available to extract valuable information.
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