Quantum (NASDAQ:QMCO) Trading Up 6.6% – Time to Buy?

Quantum Corporation (NASDAQ:QMCO)’s stock price rose 6.6% during trading on Thursday . The company traded as high as $22.92 and last traded at $23.3730. 477,657 shares traded hands during mid-day trading, a decline of 47% from the average daily volume of 906,133 shares. The stock had previously closed at $21.93.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on QMCO shares. Litchfield Hills Research began coverage on shares of Quantum in a research note on Monday. They issued a “buy” rating for the company. Northland Securities upgraded shares of Quantum from a “market perform” rating to an “outperform” rating and set a $24.00 target price on the stock in a report on Tuesday. Lake Street Capital reissued a “buy” rating and set a $24.00 target price (up from $20.00) on shares of Quantum in a research report on Tuesday. Needham & Company LLC began coverage on shares of Quantum in a report on Wednesday, June 3rd. They set a “buy” rating for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Quantum in a research note on Wednesday, June 24th. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $24.00.

Quantum Price Performance

The firm’s 50 day moving average price is $12.23 and its 200-day moving average price is $8.69. The firm has a market cap of $949.97 million, a price-to-earnings ratio of -1.82 and a beta of 2.97.

Quantum (NASDAQ:QMCO) last released its 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 company had revenue of $80.80 million for the quarter, compared to analyst estimates of $75.05 million. Quantum has set its Q2 2027 guidance at 0.020-0.220 EPS. Analysts expect that Quantum Corporation will post -0.28 EPS for the current year.

Institutional Trading of Quantum

A number of hedge funds have recently modified their holdings of QMCO. NBC Securities Inc. bought a new stake in shares of Quantum during the fourth quarter valued at approximately $26,000. Bank of America Corp DE boosted its stake in Quantum by 337.5% during the third quarter. Bank of America Corp DE now owns 2,896 shares of the company’s stock worth $29,000 after buying an additional 2,234 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Quantum by 322.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,461 shares of the company’s stock valued at $34,000 after buying an additional 2,641 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Quantum in the 2nd quarter valued at $46,000. Finally, R Squared Ltd acquired a new position in shares of Quantum in the 1st quarter valued at $58,000. Institutional investors own 63.66% of the company’s stock.

Quantum Company Profile

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.