Quantum (NASDAQ:QMCO) Stock Price Down 11.2% – Should You Sell?

Shares of Quantum Corporation (NASDAQ:QMCO) traded down 11.2% during mid-day trading on Thursday. The company traded as low as $21.03 and last traded at $21.1930. Approximately 536,777 shares were traded during mid-day trading, a decline of 50% from the average daily volume of 1,084,388 shares. The stock had previously closed at $23.86.

Analysts Set New Price Targets

A number of research analysts recently issued reports on QMCO shares. Northland Securities raised shares of Quantum from a “market perform” rating to an “outperform” rating and set a $24.00 price target for the company in a research report on Tuesday, August 11th. Wall Street Zen upgraded Quantum from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Quantum in a research note on Monday, September 21st. Lake Street Capital set a $29.00 price objective on shares of Quantum and gave the stock a “buy” rating in a research note on Monday, September 14th. Finally, Litchfield Hills Research started coverage on Quantum in a research report on Monday, August 10th. They set a “buy” rating on the stock. Four equities research 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 has an average rating of “Moderate Buy” and a consensus price target of $26.50.

Quantum Trading Down 14.4%

The firm has a market capitalization of $728.30 million, a P/E ratio of -1.40 and a beta of 3.08. The company has a 50 day simple moving average of $25.35 and a two-hundred day simple moving average of $15.30.

Quantum (NASDAQ:QMCO) last released 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 company had revenue of $80.80 million for the quarter, compared to the consensus estimate of $75.05 million. Quantum has set its Q2 2027 guidance at 0.020-0.220 EPS. On average, sell-side analysts expect that Quantum Corporation will post 0.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Alyeska Investment Group L.P. purchased a new position in shares of Quantum during the second quarter valued at about $29,193,000. Two Seas Capital LP purchased a new stake in shares of Quantum in the second quarter worth about $27,374,000. Manatuck Hill Partners LLC bought a new position in Quantum during the second quarter valued at approximately $3,850,000. BlackRock Inc. bought a new position in Quantum during the second quarter valued at approximately $3,003,000. Finally, Bank of America Corp DE grew its holdings in Quantum by 730.5% during the 2nd quarter. Bank of America Corp DE now owns 170,130 shares of the company’s stock valued at $1,871,000 after buying an additional 149,645 shares in the last quarter. Institutional investors own 63.66% of the company’s stock.

Quantum Company Profile

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.