Quantum (NASDAQ:QMCO) Shares Up 9% – What’s Next?

Quantum Corporation (NASDAQ:QMCO) shares rose 9% during mid-day trading on Monday. The company traded as high as $18.56 and last traded at $19.2080. Approximately 387,526 shares traded hands during trading, a decline of 65% from the average session volume of 1,118,747 shares. The stock had previously closed at $17.62.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Cantor Fitzgerald started coverage on shares of Quantum in a research report on Friday. They issued an “overweight” rating and a $29.00 price objective for the company. Wall Street Zen raised Quantum from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Northland Securities raised shares of Quantum from a “market perform” rating to an “outperform” rating and set a $24.00 price objective for the company in a report on Tuesday, August 11th. Litchfield Hills Research began coverage on Quantum in a research report on Monday, August 10th. They set a “buy” rating for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Quantum in a report on Monday, September 21st. Five research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Quantum presently has a consensus rating of “Moderate Buy” and an average target price of $27.33.

Quantum Stock Performance

The company has a market capitalization of $757.42 million, a P/E ratio of -1.44 and a beta of 3.08. The firm has a 50 day moving average price of $25.06 and a two-hundred day moving average price of $15.82.

Quantum (NASDAQ:QMCO) last posted its quarterly earnings results on Monday, August 10th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.35. The company had revenue of $80.80 million during the quarter, compared to analyst estimates of $75.05 million. Quantum has set its Q2 2027 guidance at 0.020-0.220 EPS. On average, equities analysts expect that Quantum Corporation will post 0.31 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. R Squared Ltd bought a new stake in shares of Quantum during the first quarter worth $58,000. Sona Asset Management US LLC bought a new stake in Quantum in the first quarter valued at approximately $333,000. Squarepoint Ops LLC bought a new position in Quantum during the second quarter worth $372,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Quantum during the 2nd quarter valued at about $381,000. Finally, Man Group plc bought a new stake in shares of Quantum in the 2nd quarter valued at $755,000. 63.66% of the stock is owned by institutional investors.

About Quantum

Quantum Corporation (NASDAQ: QMCO) provides data storage, management and protection solutions for organizations that generate and retain large volumes of unstructured data. Its offerings are designed to help customers store, protect, archive and access information across on-premises, cloud and hybrid environments.

The company’s product portfolio has included Scalar tape libraries and LTO tape storage products, DXi deduplication and backup appliances, and software-defined storage solutions such as ActiveScale object storage.