Quantum Corporation (NASDAQ:QMCO – Get Free Report) shares saw unusually-strong trading volume on Friday. Approximately 1,001,671 shares traded hands during mid-day trading, a decline of 2% from the previous session’s volume of 1,017,591 shares. The stock last traded at $31.70 and had previously closed at $29.49.
Analysts Set New Price Targets
A number of brokerages have weighed in on QMCO. Lake Street Capital set a $29.00 price target on Quantum and gave the stock a “buy” rating in a research report on Monday, September 14th. Northland Securities upgraded 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. Litchfield Hills Research began coverage on Quantum in a report on Monday, August 10th. They set a “buy” rating on the stock. Wall Street Zen upgraded Quantum from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Quantum in a report on Monday. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $26.50.
Check Out Our Latest Report on QMCO
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 for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.35. The firm had revenue of $80.80 million for the quarter, compared to the consensus estimate 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 EPS for the current fiscal year.
Institutional Investors Weigh In On Quantum
Institutional investors have recently modified their holdings of the business. State Street Corp raised its stake in Quantum by 4.3% in the 2nd quarter. State Street Corp now owns 75,914 shares of the company’s stock worth $835,000 after purchasing an additional 3,100 shares in the last quarter. R Squared Ltd acquired a new position in shares of Quantum during the 1st quarter worth approximately $58,000. Squarepoint Ops LLC acquired a new position in shares of Quantum during the 2nd quarter worth approximately $372,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Quantum during the second quarter worth approximately $381,000. Finally, Man Group plc bought a new position in shares of Quantum during the second quarter worth approximately $755,000. Institutional investors own 63.66% of the company’s stock.
About Quantum
Quantum Corporation (NASDAQ: QMCO) is a data storage and management company that provides technology for organizations handling large volumes of digital content. Its solutions are designed to help customers store, protect, manage and access unstructured data, including video, images, scientific information and other content-intensive files.
The company’s product portfolio has included Scalar tape libraries and tape storage systems, DXi deduplication appliances, and software for data backup, archiving and disaster recovery.
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