Quantum Corporation (NASDAQ:QMCO) Receives Average Recommendation of “Hold” from Brokerages

Shares of Quantum Corporation (NASDAQ:QMCO) have been given an average recommendation of “Hold” by the five analysts that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $19.3333.

QMCO has been the topic of a number of research analyst reports. Needham & Company LLC set a $20.00 price target on Quantum in a research note on Monday, August 11th. Wall Street Zen downgraded Quantum from a “hold” rating to a “sell” rating in a research report on Saturday, August 30th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Quantum in a research report on Wednesday, October 8th.

Institutional Investors Weigh In On Quantum

Institutional investors have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. lifted its stake in shares of Quantum by 99.4% in the second quarter. SBI Securities Co. Ltd. now owns 5,636 shares of the company’s stock worth $56,000 after acquiring an additional 2,809 shares in the last quarter. Activest Wealth Management lifted its stake in shares of Quantum by 428,200.0% in the first quarter. Activest Wealth Management now owns 4,283 shares of the company’s stock worth $62,000 after acquiring an additional 4,282 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Quantum in the second quarter worth about $46,000. Geode Capital Management LLC lifted 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 acquiring an additional 5,806 shares in the last quarter. Finally, AlphaQuest LLC acquired a new position in shares of Quantum in the first quarter worth about $139,000. Hedge funds and other institutional investors own 63.66% of the company’s stock.

Quantum Trading Down 3.1%

Shares of NASDAQ:QMCO opened at $10.14 on Tuesday. The stock’s 50-day moving average price is $9.43 and its two-hundred day moving average price is $9.80. Quantum has a 12-month low of $2.88 and a 12-month high of $90.64. The firm has a market cap of $135.06 million, a price-to-earnings ratio of -2.28 and a beta of 2.66.

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.