Quantum Corp. (QTM) Updates Q2 Earnings Guidance
Quantum Corp. (NYSE:QTM) issued an update on its second quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of breakeven for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.00. The company issued revenue guidance of $132-134 million, compared to the consensus revenue estimate of $119.94 million.
Quantum Corp. (NYSE:QTM) opened at 0.75 on Monday. The company’s market cap is $201.90 million. The company’s 50-day moving average price is $0.70 and its 200 day moving average price is $0.54. Quantum Corp. has a 52 week low of $0.35 and a 52 week high of $1.05.
A number of analysts have commented on the company. Zacks Investment Research downgraded Quantum Corp. from a strong-buy rating to a hold rating in a research report on Wednesday, September 28th. Roth Capital assumed coverage on Quantum Corp. in a research report on Thursday, August 25th. They issued a buy rating and a $1.50 price objective for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. The company has an average rating of Hold and a consensus price target of $1.42.
Several institutional investors have recently bought and sold shares of the company. Spark Investment Management LLC increased its position in Quantum Corp. by 21.2% in the second quarter. Spark Investment Management LLC now owns 634,900 shares of the company’s stock valued at $266,000 after buying an additional 111,100 shares during the period. Laurion Capital Management LP bought a new position in Quantum Corp. during the second quarter valued at approximately $274,000. Paloma Partners Management Co increased its position in shares of Quantum Corp. by 551.5% in the second quarter. Paloma Partners Management Co now owns 772,129 shares of the company’s stock valued at $324,000 after buying an additional 653,608 shares during the last quarter. S Squared Technology LLC acquired a new position in shares of Quantum Corp. during the second quarter valued at about $537,000. Finally, Vanguard Group Inc. increased its position in shares of Quantum Corp. by 0.8% in the second quarter. Vanguard Group Inc. now owns 8,482,427 shares of the company’s stock valued at $3,562,000 after buying an additional 66,958 shares during the last quarter. Institutional investors and hedge funds own 50.49% of the company’s stock.
Quantum Corp. Company Profile
Quantum Corporation focuses on scale-out storage, archive and data protection, providing solutions for capturing, sharing, managing and preserving digital assets over the entire data lifecycle. The Company’s end-to-end tiered storage solutions enable users to maximize the value of their data by making it accessible whenever and wherever needed, retaining it indefinitely and reducing total cost and complexity.
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