Susquehanna Fundamental Investments LLC bought a new position in shares of Quantum Corporation (NASDAQ:QMCO – Free Report) in the 2nd quarter, Holdings Channel reports. The fund bought 34,601 shares of the company’s stock, valued at approximately $381,000.
Several other institutional investors have also recently made changes to their positions in QMCO. Bank of America Corp DE raised its stake in Quantum by 337.5% during the 3rd quarter. Bank of America Corp DE now owns 2,896 shares of the company’s stock worth $29,000 after buying an additional 2,234 shares during the period. BNP Paribas Financial Markets increased its position in shares of Quantum by 322.1% during the third quarter. BNP Paribas Financial Markets now owns 3,461 shares of the company’s stock worth $34,000 after acquiring an additional 2,641 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Quantum in the 2nd quarter worth about $46,000. Geode Capital Management LLC lifted its position in Quantum by 9.1% in the 2nd quarter. Geode Capital Management LLC now owns 69,384 shares of the company’s stock valued at $692,000 after acquiring an additional 5,806 shares in the last quarter. Finally, Millennium Management LLC bought a new stake in Quantum during the 4th quarter worth approximately $73,000. Institutional investors and hedge funds own 63.66% of the company’s stock.
Quantum Stock Performance
NASDAQ QMCO opened at $22.78 on Thursday. The company has a market capitalization of $897.76 million, a PE ratio of -1.72 and a beta of 3.14. Quantum Corporation has a 52-week low of $4.19 and a 52-week high of $27.80. The company has a 50-day simple moving average of $15.01 and a 200 day simple moving average of $10.48.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on QMCO. Weiss Ratings restated a “sell (d-)” rating on shares of Quantum in a report on Wednesday, June 24th. Northland Securities upgraded 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 report on Saturday, August 15th. Needham & Company LLC began coverage on shares of Quantum in a report on Wednesday, June 3rd. They issued a “buy” rating for the company. Finally, Lake Street Capital reissued a “buy” rating and set a $24.00 price target (up from $20.00) on shares of Quantum in a research report on Tuesday, August 11th. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Quantum has a consensus rating of “Moderate Buy” and a consensus target price of $24.00.
Read Our Latest Analysis on Quantum
About Quantum
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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