Quantum (NASDAQ:QMCO) Receives “Market Perform” Rating from Northland Securities

Northland Securities reissued their market perform rating on shares of Quantum (NASDAQ:QMCO) in a research note issued to investors on Thursday,Benzinga reports. Northland Securities currently has a $5.00 target price on the stock, up from their previous target price of $0.25.

Quantum Stock Performance

NASDAQ:QMCO traded up $0.32 on Thursday, hitting $3.51. 46,786 shares of the stock were exchanged, compared to its average volume of 32,031. Quantum has a fifty-two week low of $2.22 and a fifty-two week high of $18.00. The stock has a fifty day moving average of $3.86 and a 200-day moving average of $6.55.

Quantum (NASDAQ:QMCO) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($40.00) EPS for the quarter, missing the consensus estimate of ($12.00) by ($28.00). The company had revenue of $71.34 million for the quarter, compared to analysts’ expectations of $72.00 million. As a group, research analysts forecast that Quantum will post -3.4 earnings per share for the current year.

Institutional Trading of Quantum

A hedge fund recently bought a new stake in Quantum stock. Tidal Investments LLC purchased a new position in shares of Quantum Co. (NASDAQ:QMCO) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 44,165 shares of the company’s stock, valued at approximately $26,000. 63.66% of the stock is owned by hedge funds and other institutional investors.

Quantum Company Profile

Quantum Corporation provides products for storing and managing digital video and unstructured data in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers Myriad All-Flash File and Object Storage Software for high performance enterprise unstructured data applications such as AI, machine learning, and data analytics; Unified Surveillance Platform Software that unified compute and storage for video surveillance recording, storage, and analytics; StorNext Hybrid Flash/Disk File Storage Software for video editing, post-production, and streaming applications, as well as digital file archives; and CatDV Asset Management Software for indexing, cataloging, enriching video, audio, and image files, and workflow orchestration.