Quantum (NASDAQ:QMCO) Sets New 52-Week High – Here’s Why

Shares of Quantum Corporation (NASDAQ:QMCO) reached a new 52-week high on Thursday. The stock traded as high as $29.15 and last traded at $25.97, with a volume of 3682163 shares. The stock had previously closed at $25.65.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Quantum in a research note on Monday. Lake Street Capital set a $29.00 price target on Quantum and gave the stock a “buy” rating in a research report on Monday, September 14th. Northland Securities upgraded 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, August 11th. Litchfield Hills Research initiated coverage on Quantum in a research report on Monday, August 10th. They issued a “buy” rating for the company. Finally, Wall Street Zen raised Quantum from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $26.50.

Quantum Price Performance

The business’s 50-day moving average is $19.95 and its two-hundred day moving average is $12.80. The firm has a market cap of $1.25 billion, a P/E ratio of -2.39 and a beta of 3.14.

Quantum (NASDAQ:QMCO) last issued its quarterly earnings results on Monday, August 10th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of ($0.17) by $0.35. The business 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. Equities research analysts predict that Quantum Corporation will post 0.31 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in QMCO. Man Group plc bought a new position in shares of Quantum in the second quarter valued at $755,000. Two Seas Capital LP bought a new stake in Quantum during the second quarter worth $27,374,000. Alyeska Investment Group L.P. bought a new stake in Quantum during the second quarter worth $29,193,000. Susquehanna Fundamental Investments LLC acquired a new stake in Quantum in the second quarter valued at $381,000. Finally, BlackRock Inc. acquired a new stake in Quantum in the second quarter valued at $3,003,000. Institutional investors and hedge funds own 63.66% of the company’s stock.

About Quantum

Quantum Corporation (NASDAQ: QMCO) is a data storage and management company that provides technology for organizations handling large volumes of digital content. Its solutions are designed to help customers store, protect, manage and access unstructured data, including video, images, scientific information and other content-intensive files.

The company’s product portfolio has included Scalar tape libraries and tape storage systems, DXi deduplication appliances, and software for data backup, archiving and disaster recovery.