Quantum Corporation (NASDAQ:QMCO) Receives Consensus Rating of “Hold” from Brokerages

Shares of Quantum Corporation (NASDAQ:QMCO) have received a consensus recommendation of “Hold” from the five ratings firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $19.3333.

QMCO has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Quantum in a research note on Wednesday, October 8th. Needham & Company LLC set a $20.00 price target on Quantum in a research report on Monday, August 11th. Finally, Wall Street Zen downgraded Quantum from a “hold” rating to a “sell” rating in a research report on Saturday, August 30th.

Quantum Price Performance

NASDAQ QMCO opened at $10.14 on Tuesday. Quantum has a 1-year low of $2.88 and a 1-year high of $90.64. The company has a market capitalization of $135.06 million, a P/E ratio of -2.28 and a beta of 2.66. The business has a 50 day moving average price of $9.43 and a 200 day moving average price of $9.80.

Hedge Funds Weigh In On Quantum

Several hedge funds have recently bought and sold shares of QMCO. Raymond James Financial Inc. purchased a new position in Quantum during the second quarter worth $46,000. SBI Securities Co. Ltd. increased its position in Quantum by 99.4% during the second quarter. SBI Securities Co. Ltd. now owns 5,636 shares of the company’s stock worth $56,000 after buying an additional 2,809 shares in the last quarter. Activest Wealth Management increased its position in Quantum by 428,200.0% during the first quarter. Activest Wealth Management now owns 4,283 shares of the company’s stock worth $62,000 after buying an additional 4,282 shares in the last quarter. Apollon Wealth Management LLC purchased a new stake in shares of Quantum in the second quarter valued at $107,000. Finally, AlphaQuest LLC purchased a new stake in shares of Quantum in the first quarter valued at $139,000. Hedge funds and other institutional investors own 63.66% of the company’s stock.

About Quantum

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.