Quantum (NASDAQ:QMCO) Trading Up 6.6% – Time to Buy?

Quantum Corporation (NASDAQ:QMCO)’s stock price rose 6.6% during mid-day trading on Thursday . The stock traded as high as $22.92 and last traded at $23.3730. 477,657 shares were traded during mid-day trading, a decline of 47% from the average session volume of 906,133 shares. The stock had previously closed at $21.93.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on QMCO shares. Northland Securities raised Quantum from a “market perform” rating to an “outperform” rating and set a $24.00 price objective on the stock in a report on Tuesday. Litchfield Hills Research initiated coverage on Quantum in a research report on Monday. They set a “buy” rating for the company. Lake Street Capital reaffirmed a “buy” rating and issued a $24.00 price target (up from $20.00) on shares of Quantum in a research note on Tuesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Quantum in a research report on Wednesday, June 24th. Finally, Needham & Company LLC initiated coverage on Quantum in a research note on Wednesday, June 3rd. They set a “buy” rating for the company. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $24.00.

Quantum Trading Up 9.9%

The firm has a market capitalization of $949.97 million, a price-to-earnings ratio of -1.82 and a beta of 2.97. The firm has a fifty day moving average price of $12.23 and a 200 day moving average price of $8.69.

Quantum (NASDAQ:QMCO) last issued its quarterly earnings data on Monday, August 10th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.35. The business 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. As a group, equities analysts predict that Quantum Corporation will post -0.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Quantum

A number of hedge funds have recently added to or reduced their stakes in QMCO. Two Seas Capital LP acquired a new stake in Quantum in the 2nd quarter valued at about $27,374,000. BlackRock Inc. acquired a new stake in shares of Quantum in the second quarter valued at approximately $3,003,000. Sona Asset Management US LLC acquired a new stake in shares of Quantum in the first quarter valued at approximately $333,000. R Squared Ltd acquired a new stake in shares of Quantum in the 1st quarter valued at $58,000. Finally, XTX Topco Ltd acquired a new stake in shares of Quantum in the 4th quarter valued at $77,000. Institutional investors own 63.66% of the company’s stock.

Quantum Company Profile

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.