Quantum (NASDAQ:QMCO) Shares Gap Down – Should You Sell?

Quantum Corporation (NASDAQ:QMCO) shares gapped down prior to trading on Monday . The stock had previously closed at $26.11, but opened at $24.83. Quantum shares last traded at $24.8750, with a volume of 685,511 shares trading hands.

Analysts Set New Price Targets

QMCO has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Quantum in a research note on Wednesday, June 24th. Wall Street Zen upgraded Quantum from a “hold” rating to a “buy” rating in a research report on Saturday. Needham & Company LLC started coverage on Quantum in a research note on Wednesday, June 3rd. They set a “buy” rating on the stock. Northland Securities upgraded Quantum from a “market perform” rating to an “outperform” rating and set a $24.00 price target on the stock in a report on Tuesday, August 11th. Finally, Litchfield Hills Research started coverage on Quantum in a research note on Monday, August 10th. They set a “buy” rating for the company. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Quantum presently has an average rating of “Moderate Buy” and an average price target of $24.00.

Quantum Stock Performance

The firm has a fifty day simple moving average of $13.14 and a 200 day simple moving average of $9.19. The company has a market capitalization of $926.92 million, a PE ratio of -1.78 and a beta of 2.97.

Quantum (NASDAQ:QMCO) last posted its quarterly earnings results on Monday, August 10th. The company reported $0.18 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. Research analysts expect that Quantum Corporation will post -0.28 EPS for the current fiscal year.

Hedge Funds Weigh In On Quantum

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE raised its holdings in shares of 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 buying an additional 149,645 shares during the last quarter. Man Group plc purchased a new stake in shares of Quantum during the second quarter valued at $755,000. Manatuck Hill Partners LLC acquired a new position in shares of Quantum in the 2nd quarter valued at $3,850,000. Two Seas Capital LP purchased a new position in Quantum in the 2nd quarter worth $27,374,000. Finally, BlackRock Inc. purchased a new position in Quantum in the 2nd quarter worth $3,003,000. 63.66% of the stock is owned by hedge funds and other institutional investors.

About Quantum

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.