Quantum Corporation (NASDAQ:QMCO – Get Free Report)’s stock price gapped up prior to trading on Friday. The stock had previously closed at $16.98, but opened at $17.64. Quantum shares last traded at $18.3750, with a volume of 192,019 shares.
Wall Street Analyst Weigh In
QMCO has been the topic of a number of recent research reports. Lake Street Capital set a $29.00 price objective on Quantum and gave the company a “buy” rating in a research report on Monday, September 14th. Wall Street Zen upgraded Quantum from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Cantor Fitzgerald initiated coverage on shares of Quantum in a research note on Friday. They issued an “overweight” rating and a $29.00 target price for the company. Northland Securities upgraded shares of Quantum from a “market perform” rating to an “outperform” rating and set a $24.00 price target on the stock in a research note on Tuesday, August 11th. Finally, Litchfield Hills Research assumed coverage on shares of Quantum in a report on Monday, August 10th. They issued a “buy” rating for the company. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $27.33.
Get Our Latest Analysis on Quantum
Quantum Stock Up 8.7%
The company has a market cap of $727.08 million, a price-to-earnings ratio of -1.40 and a beta of 3.08. The stock’s 50-day simple moving average is $25.23 and its 200 day simple moving average is $15.74.
Quantum (NASDAQ:QMCO – Get Free Report) last issued its quarterly earnings data on Monday, August 10th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of ($0.17) by $0.35. The company 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, sell-side analysts expect that Quantum Corporation will post 0.31 EPS for the current fiscal year.
Institutional Trading of Quantum
Institutional investors have recently modified their holdings of the stock. State Street Corp increased its stake in Quantum by 4.3% in the second quarter. State Street Corp now owns 75,914 shares of the company’s stock valued at $835,000 after purchasing an additional 3,100 shares during the period. R Squared Ltd acquired a new stake in Quantum in the 1st quarter worth about $58,000. Squarepoint Ops LLC acquired a new stake in Quantum during the 2nd quarter worth approximately $372,000. Susquehanna Fundamental Investments LLC purchased a new position in Quantum in the 2nd quarter worth approximately $381,000. Finally, Man Group plc acquired a new stake in shares of Quantum during the second quarter worth approximately $755,000. Hedge funds and other institutional investors own 63.66% of the company’s stock.
About Quantum
Quantum Corporation (NASDAQ: QMCO) provides data storage, management and protection solutions for organizations that generate and retain large volumes of unstructured data. Its offerings are designed to help customers store, protect, archive and access information across on-premises, cloud and hybrid environments.
The company’s product portfolio has included Scalar tape libraries and LTO tape storage products, DXi deduplication and backup appliances, and software-defined storage solutions such as ActiveScale object storage.
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