S Squared Technology LLC boosted its stake in Quantum Corporation (NYSE:QTM) by 50.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,920,518 shares of the technology company’s stock after buying an additional 642,100 shares during the period. Quantum Corporation comprises 1.6% of S Squared Technology LLC’s holdings, making the stock its 25th largest position. S Squared Technology LLC owned approximately 5.66% of Quantum Corporation worth $1,671,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in QTM. Franklin Resources Inc. raised its position in Quantum Corporation by 12.7% in the fourth quarter. Franklin Resources Inc. now owns 171,275 shares of the technology company’s stock valued at $143,000 after buying an additional 19,329 shares during the period. FMR LLC increased its position in shares of Quantum Corporation by 42.3% in the fourth quarter. FMR LLC now owns 3,410,665 shares of the technology company’s stock valued at $2,838,000 after buying an additional 1,013,532 shares during the period. Russell Investments Group Ltd. bought a new position in shares of Quantum Corporation during the fourth quarter valued at $699,000. Renaissance Technologies LLC increased its position in shares of Quantum Corporation by 15.8% in the fourth quarter. Renaissance Technologies LLC now owns 6,330,952 shares of the technology company’s stock valued at $5,268,000 after buying an additional 865,897 shares during the period. Finally, Pacific Ridge Capital Partners LLC increased its position in shares of Quantum Corporation by 50.7% in the first quarter. Pacific Ridge Capital Partners LLC now owns 3,988,157 shares of the technology company’s stock valued at $3,470,000 after buying an additional 1,342,013 shares during the period.
Shares of Quantum Corporation (NYSE QTM) opened at 7.23 on Friday. The company has a 50 day moving average price of $8.26 and a 200-day moving average price of $3.09. The stock has a market capitalization of $246.49 million, a P/E ratio of 66.94 and a beta of 2.30. Quantum Corporation has a 1-year low of $2.96 and a 1-year high of $9.20.
Quantum Corporation (NYSE:QTM) last posted its earnings results on Wednesday, May 10th. The technology company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. Quantum Corporation had a net margin of 0.62% and a negative return on equity of 5.94%. The company had revenue of $120.80 million during the quarter, compared to analysts’ expectations of $122.59 million. During the same quarter in the previous year, the company posted $0.02 earnings per share. Quantum Corporation’s quarterly revenue was up .7% compared to the same quarter last year. On average, equities research analysts forecast that Quantum Corporation will post $0.63 EPS for the current fiscal year.
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Separately, Zacks Investment Research upgraded Quantum Corporation from a “hold” rating to a “strong-buy” rating and set a $9.25 target price on the stock in a research note on Wednesday, May 17th.
Quantum Corporation Company Profile
Quantum Corporation focuses on scale-out storage, archive and data protection, providing solutions for capturing, sharing, managing and preserving digital assets over the entire data lifecycle. The Company’s end-to-end tiered storage solutions enable users to maximize the value of their data by making it accessible whenever and wherever needed, retaining it indefinitely and reducing total cost and complexity.
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