Quantum Corporation (NASDAQ:QMCO) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Quantum Corporation (NASDAQ:QMCO) have received a consensus rating of “Moderate Buy” from the five brokerages that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation and four have given a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $17.6667.

A number of research analysts have issued reports on QMCO shares. Needham & Company LLC started coverage on shares of Quantum in a report on Wednesday. They issued a “buy” rating on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Quantum in a research note on Friday, March 27th. Wall Street Zen raised shares of Quantum from a “sell” rating to a “hold” rating in a research note on Saturday, February 21st. Finally, Lake Street Capital reaffirmed a “buy” rating and set a $20.00 price objective (up from $8.00) on shares of Quantum in a research note on Wednesday.

Quantum Stock Performance

NASDAQ:QMCO opened at $12.70 on Monday. The firm has a market cap of $185.93 million, a price-to-earnings ratio of -5.38 and a beta of 2.96. The company’s 50-day moving average is $8.02 and its two-hundred day moving average is $7.17. Quantum has a 12-month low of $4.19 and a 12-month high of $18.48.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of QMCO. Marshall Wace LLP acquired a new position in shares of Quantum during the 2nd quarter valued at about $1,775,000. UBS Group AG increased its stake in shares of Quantum by 170.0% during the 3rd quarter. UBS Group AG now owns 162,605 shares of the company’s stock valued at $1,613,000 after acquiring an additional 102,384 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Quantum by 97.5% during the 4th quarter. Geode Capital Management LLC now owns 156,871 shares of the company’s stock valued at $1,012,000 after acquiring an additional 77,444 shares during the last quarter. Sona Asset Management US LLC acquired a new position in shares of Quantum during the 1st quarter valued at about $333,000. Finally, State Street Corp increased its stake in shares of Quantum by 231.7% during the 4th quarter. State Street Corp now owns 90,714 shares of the company’s stock valued at $585,000 after acquiring an additional 63,367 shares during the last quarter. Institutional investors and hedge funds own 63.66% of the company’s stock.

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.