Quantum (NASDAQ:QMCO) Shares Gap Down – Should You Sell?

Quantum Corporation (NASDAQ:QMCO) shares gapped down before the market opened on Tuesday. The stock had previously closed at $18.31, but opened at $17.60. Quantum shares last traded at $18.5480, with a volume of 142,993 shares changing hands.

Wall Street Analyst Weigh In

Several research firms recently issued reports on QMCO. Lake Street Capital set a $29.00 price target on Quantum and gave the company a “buy” rating in a report on Monday, September 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Quantum in a report on Monday, September 21st. Northland Securities raised Quantum from a “market perform” rating to an “outperform” rating and set a $24.00 price objective for the company in a report on Tuesday, August 11th. Wall Street Zen upgraded shares of Quantum from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Finally, Litchfield Hills Research started coverage on shares of Quantum in a research note on Monday, August 10th. They issued a “buy” rating on the stock. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $26.50.

Quantum Stock Performance

The firm’s 50-day simple moving average is $25.48 and its 200 day simple moving average is $15.48. The company has a market cap of $749.46 million, a P/E ratio of -1.44 and a beta of 3.08.

Quantum (NASDAQ:QMCO) last posted its quarterly earnings results on Monday, August 10th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.35. The company had revenue of $80.80 million during the quarter, compared to the consensus estimate of $75.05 million. Quantum has set its Q2 2027 guidance at 0.020-0.220 EPS. As a group, research analysts forecast that Quantum Corporation will post 0.31 earnings per share for the current year.

Hedge Funds Weigh In On Quantum

Several institutional investors have recently modified their holdings of the stock. Man Group plc bought a new stake in shares of Quantum in the 2nd quarter valued at about $755,000. BlackRock Inc. bought a new stake in Quantum in the second quarter valued at approximately $3,003,000. Squarepoint Ops LLC bought a new position in shares of Quantum during the second quarter worth $372,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Quantum in the 2nd quarter valued at $381,000. Finally, Bank of America Corp DE grew its holdings in shares of Quantum by 730.5% in the 2nd quarter. Bank of America Corp DE now owns 170,130 shares of the company’s stock valued at $1,871,000 after buying an additional 149,645 shares during the period. 63.66% of the stock is currently owned by institutional investors and hedge funds.

About Quantum

Quantum Corporation (NASDAQ:QMCO) provides data storage, management and protection solutions for organizations that generate and retain large volumes of unstructured data. Its customers include businesses, media and entertainment companies, government agencies, research institutions and other organizations that require long-term data preservation, rapid access and secure information management.

The company’s portfolio includes tape libraries and drives based on Linear Tape-Open (LTO) technology, disk-based backup and deduplication systems, and software for managing files, objects and data workflows.