Quantum (NASDAQ:QMCO) Sets New 1-Year High After Analyst Upgrade

Shares of Quantum Corporation (NASDAQ:QMCO – Get Free Report) hit a new 52-week high on Wednesday after Northland Securities upgraded the stock from a market perform rating to an outperform rating. Northland Securities now has a $24.00 price target on the stock. Quantum traded as high as $19.60 and last traded at $19.40, with a volume of 16482578 shares traded. The stock had previously closed at $11.78.

Other analysts have also issued research reports about the company. Lake Street Capital reissued a “buy” rating and issued a $24.00 target price (up from $20.00) on shares of Quantum in a research report on Tuesday. Weiss Ratings restated a “sell (d-)” rating on shares of Quantum in a research report on Wednesday, June 24th. Needham & Company LLC assumed coverage on Quantum in a report on Wednesday, June 3rd. They issued a “buy” rating on the stock. Finally, Litchfield Hills Research initiated coverage on Quantum in a report on Monday. They issued a “buy” rating on the stock. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $24.00.

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Institutional Trading of Quantum

Several hedge funds have recently added to or reduced their stakes in the company. NBC Securities Inc. acquired a new position in Quantum during the 4th quarter worth approximately $26,000. Bank of America Corp DE grew its stake in shares of Quantum by 337.5% during the third quarter. Bank of America Corp DE now owns 2,896 shares of the company’s stock worth $29,000 after purchasing an additional 2,234 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Quantum by 322.1% in the third quarter. BNP Paribas Financial Markets now owns 3,461 shares of the company’s stock valued at $34,000 after buying an additional 2,641 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Quantum in the second quarter valued at $46,000. Finally, R Squared Ltd purchased a new stake in Quantum during the 1st quarter worth about $58,000. Institutional investors and hedge funds own 63.66% of the company’s stock.

Quantum Stock Performance

The firm has a market capitalization of $764.38 million, a price-to-earnings ratio of -1.47 and a beta of 2.97. The company has a 50-day moving average price of $12.11 and a 200-day moving average price of $8.58.

Quantum (NASDAQ:QMCO – Get Free Report) last posted its earnings results on Monday, August 10th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.35. The business had revenue of $80.80 million for the quarter, compared to analysts’ expectations of $75.05 million. Quantum has set its Q2 2027 guidance at 0.020-0.220 EPS. On average, research analysts expect that Quantum Corporation will post -0.28 earnings per share for the current fiscal year.

About Quantum

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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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