Quantum (NASDAQ:QMCO) Trading 6.6% Higher – Should You Buy?

Quantum Corporation (NASDAQ:QMCO)’s stock price was up 6.6% during mid-day trading on Monday . The company traded as high as $23.81 and last traded at $23.73. Approximately 438,846 shares traded hands during trading, a decline of 55% from the average daily volume of 970,488 shares. The stock had previously closed at $22.26.

Wall Street Analyst Weigh In

Several analysts recently issued reports on QMCO shares. Litchfield Hills Research assumed coverage on shares of Quantum in a report on Monday, August 10th. They issued a “buy” rating on the stock. Lake Street Capital reaffirmed a “buy” rating and set a $24.00 target price (up from $20.00) on shares of Quantum in a research note on Tuesday, August 11th. Needham & Company LLC began coverage on shares of Quantum in a research report on Wednesday, June 3rd. They set a “buy” rating for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Quantum in a research note on Wednesday, June 24th. Finally, Wall Street Zen upgraded shares of Quantum from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Four research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $24.00.

Quantum Stock Performance

The company has a 50 day moving average of $14.82 and a 200-day moving average of $10.36. The stock has a market cap of $952.54 million, a price-to-earnings ratio of -1.83 and a beta of 3.13.

Quantum (NASDAQ:QMCO) last released its earnings results on Monday, August 10th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.35. The firm 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, research analysts anticipate that Quantum Corporation will post 0.31 EPS for the current year.

Institutional Investors Weigh In On Quantum

A number of hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE boosted its position in Quantum by 337.5% in the 3rd quarter. Bank of America Corp DE now owns 2,896 shares of the company’s stock valued at $29,000 after buying an additional 2,234 shares during the period. BNP Paribas Financial Markets increased its position in shares of Quantum by 322.1% during the third quarter. BNP Paribas Financial Markets now owns 3,461 shares of the company’s stock worth $34,000 after acquiring an additional 2,641 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Quantum in the second quarter valued at $46,000. Geode Capital Management LLC raised its stake in shares of Quantum by 9.1% in the second quarter. Geode Capital Management LLC now owns 69,384 shares of the company’s stock valued at $692,000 after acquiring an additional 5,806 shares in the last quarter. Finally, Millennium Management LLC purchased a new position in Quantum in the fourth quarter valued at $73,000. 63.66% of the stock is currently owned by institutional investors and hedge funds.

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.