Quantum Corporation (NASDAQ:QMCO – Get Free Report) was the target of unusually large options trading activity on Tuesday. Investors purchased 2,575 call options on the company. This is an increase of approximately 91% compared to the typical daily volume of 1,345 call options.
Quantum Stock Up 4.3%
Shares of NASDAQ:QMCO traded up $0.78 on Tuesday, hitting $19.09. The company had a trading volume of 659,584 shares, compared to its average volume of 1,104,598. The firm’s 50-day simple moving average is $25.48 and its two-hundred day simple moving average is $15.48. The firm has a market capitalization of $752.34 million, a price-to-earnings ratio of -1.44 and a beta of 3.08. Quantum has a 1 year low of $4.19 and a 1 year high of $35.65.
Quantum (NASDAQ:QMCO – Get Free Report) last released its quarterly earnings results on Monday, August 10th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.35. The company had revenue of $80.80 million during the quarter, compared to the consensus estimate of $75.05 million. Quantum has set its Q2 2027 guidance at 0.020-0.220 EPS. Equities research analysts anticipate that Quantum will post 0.31 EPS for the current year.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the company. State Street Corp lifted its stake in shares of Quantum by 4.3% in the 2nd 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. Squarepoint Ops LLC purchased a new stake in Quantum in the second quarter worth $372,000. Susquehanna Fundamental Investments LLC purchased a new stake in Quantum in the second quarter worth $381,000. Alyeska Investment Group L.P. bought a new position in Quantum in the second quarter worth $29,193,000. Finally, Bank of America Corp DE raised its holdings in Quantum by 730.5% in the second quarter. Bank of America Corp DE now owns 170,130 shares of the company’s stock worth $1,871,000 after purchasing an additional 149,645 shares in the last quarter. Institutional investors own 63.66% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts have recently commented on the stock. Lake Street Capital set a $29.00 price objective on shares of Quantum and gave the company a “buy” rating in a research note on Monday, September 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Quantum in a report on Monday, September 21st. Wall Street Zen raised Quantum from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Litchfield Hills Research started coverage on Quantum in a research report on Monday, August 10th. They set a “buy” rating for the company. Finally, Northland Securities upgraded Quantum from a “market perform” rating to an “outperform” rating and set a $24.00 price objective for the company in a report on Tuesday, August 11th. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Quantum has a consensus rating of “Moderate Buy” and a consensus target price of $26.50.
View Our Latest Report on QMCO
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 customers include businesses, media and entertainment companies, government agencies, research institutions and other organizations that require long-term data preservation, rapid access and secure information management.
The company’s portfolio includes tape libraries and drives based on Linear Tape-Open (LTO) technology, disk-based backup and deduplication systems, and software for managing files, objects and data workflows.
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