Quantum Corporation (NYSE:QTM) insider Jon W. Gacek sold 12,254 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $5.50, for a total transaction of $67,397.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Shares of Quantum Corporation (NYSE:QTM) traded up 2.00% during midday trading on Friday, reaching $5.62. 38,370 shares of the company’s stock traded hands. The stock’s 50-day moving average price is $6.47 and its 200 day moving average price is $5.59. The firm has a market capitalization of $193.73 million, a PE ratio of 54.56 and a beta of 2.39. Quantum Corporation has a one year low of $4.86 and a one year high of $9.20.

Quantum Corporation (NYSE:QTM) last released its earnings results on Wednesday, August 9th. The technology company reported ($0.01) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by $0.02. The firm had revenue of $116.86 million during the quarter, compared to analysts’ expectations of $119.40 million. Quantum Corporation had a negative return on equity of 7.26% and a net margin of 0.64%. Quantum Corporation’s revenue for the quarter was up .5% on a year-over-year basis. On average, equities research analysts expect that Quantum Corporation will post $0.47 earnings per share for the current fiscal year.

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Institutional investors have recently added to or reduced their stakes in the stock. Voya Investment Management LLC purchased a new stake in Quantum Corporation in the 2nd quarter worth approximately $101,000. Royce & Associates LP purchased a new stake in Quantum Corporation during the 2nd quarter valued at approximately $102,000. Strs Ohio purchased a new stake in Quantum Corporation during the 2nd quarter valued at approximately $113,000. Bluefin Trading LLC purchased a new stake in Quantum Corporation during the 2nd quarter valued at approximately $169,000. Finally, The Manufacturers Life Insurance Company grew its holdings in Quantum Corporation by 1,582.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 24,348 shares of the technology company’s stock valued at $190,000 after buying an additional 22,901 shares in the last quarter. 68.69% of the stock is owned by institutional investors.

A number of research firms have recently commented on QTM. Lake Street Capital cut their price objective on shares of Quantum Corporation from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Thursday, August 10th. BidaskClub lowered shares of Quantum Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Finally, Zacks Investment Research lowered shares of Quantum Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 20th.

Quantum Corporation 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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