Quantum Corporation (NASDAQ:QMCO – Get Free Report)’s stock price was up 6.6% during trading on Monday . The stock traded as high as $23.81 and last traded at $23.73. Approximately 438,846 shares were traded during trading, a decline of 55% from the average daily volume of 970,488 shares. The stock had previously closed at $22.26.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on the company. Needham & Company LLC began coverage on Quantum in a report on Wednesday, June 3rd. They issued a “buy” rating for the company. Northland Securities upgraded shares of Quantum from a “market perform” rating to an “outperform” rating and set a $24.00 price objective on the stock in a research note on Tuesday, August 11th. Wall Street Zen raised shares of Quantum from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Lake Street Capital restated a “buy” rating and issued a $24.00 target price (up from $20.00) on shares of Quantum in a research note on Tuesday, August 11th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Quantum in a report on Wednesday, June 24th. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Quantum currently has an average rating of “Moderate Buy” and an average target price of $24.00.
Get Our Latest Report on Quantum
Quantum Price Performance
Quantum (NASDAQ:QMCO – Get Free Report) last announced its earnings results on Monday, August 10th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.35. The business 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 research analysts expect that Quantum Corporation will post 0.31 EPS for the current year.
Institutional Investors Weigh In On Quantum
Several hedge funds and other institutional investors have recently modified their holdings of QMCO. Bank of America Corp DE increased its holdings in Quantum by 337.5% in the third quarter. Bank of America Corp DE now owns 2,896 shares of the company’s stock valued at $29,000 after buying an additional 2,234 shares during the last quarter. 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 last quarter. Raymond James Financial Inc. acquired a new position in shares of Quantum in the 2nd quarter worth approximately $46,000. Millennium Management LLC acquired a new position in shares of Quantum in the 4th quarter worth approximately $73,000. Finally, XTX Topco Ltd bought a new stake in shares of Quantum in the 4th quarter valued at approximately $77,000. Institutional investors own 63.66% of the company’s stock.
Quantum Company Profile
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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