Quantum (NASDAQ:QMCO) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Quantum (NASDAQ:QMCO) from a hold rating to a buy rating in a research note released on Saturday.

QMCO has been the subject of a number of other reports. Litchfield Hills Research started coverage on shares of Quantum in a research note on Monday, August 10th. They set a “buy” rating for the company. Needham & Company LLC started coverage on shares of Quantum in a research report on Wednesday, June 3rd. They issued a “buy” rating on the stock. Northland Securities upgraded shares of Quantum from a “market perform” rating to an “outperform” rating and set a $24.00 price target for the company in a research report on Tuesday, August 11th. Lake Street Capital reaffirmed a “buy” rating and issued a $24.00 price objective (up from $20.00) on shares of Quantum in a research note on Tuesday, August 11th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Quantum in a research report on Wednesday, June 24th. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $24.00.

Quantum Stock Down 4.6%

QMCO opened at $24.92 on Friday. The firm has a market cap of $982.10 million, a PE ratio of -1.88 and a beta of 2.97. The business has a fifty day simple moving average of $12.93 and a 200-day simple moving average of $9.07. Quantum has a fifty-two week low of $4.19 and a fifty-two week high of $27.80.

Quantum (NASDAQ:QMCO) last issued its earnings results on Monday, August 10th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.35. The company had revenue of $80.80 million during the quarter, compared to analyst estimates of $75.05 million. Quantum has set its Q2 2027 guidance at 0.020-0.220 EPS. On average, equities research analysts anticipate that Quantum will post -0.28 EPS for the current fiscal year.

Institutional Trading of Quantum

A number of hedge funds have recently made changes to their positions in QMCO. Sona Asset Management US LLC purchased a new position in Quantum during the first quarter valued at approximately $333,000. R Squared Ltd purchased a new stake in Quantum in the 1st quarter worth approximately $58,000. NBC Securities Inc. acquired a new stake in shares of Quantum during the 4th quarter valued at $26,000. Barclays PLC boosted its stake in shares of Quantum by 3,020.2% during the 4th quarter. Barclays PLC now owns 14,197 shares of the company’s stock valued at $92,000 after buying an additional 13,742 shares during the period. Finally, XTX Topco Ltd purchased a new position in shares of Quantum during the 4th quarter valued at $77,000. 63.66% of the stock is owned by hedge funds and other institutional investors.

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.