Quantum (NASDAQ:QMCO) Shares Climb 7.7% – Time to Buy?

Quantum Corporation (NASDAQ:QMCO)’s stock price traded up 7.7% during mid-day trading on Wednesday. The stock traded as high as $27.50 and last traded at $27.6280. Approximately 739,814 shares changed hands during mid-day trading, a decline of 24% from the average daily volume of 978,823 shares. The stock had previously closed at $25.65.

Analyst Upgrades and Downgrades

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

Quantum Trading Up 13.6%

The company has a fifty day moving average price of $19.53 and a two-hundred day moving average price of $12.66. The firm has a market cap of $1.16 billion, a P/E ratio of -2.23 and a beta of 3.14.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Alyeska Investment Group L.P. bought a new position in Quantum in the second quarter valued at $29,193,000. Two Seas Capital LP bought a new position in Quantum during the second quarter worth about $27,374,000. Manatuck Hill Partners LLC bought a new stake in shares of Quantum during the 2nd quarter valued at $3,850,000. BlackRock Inc. acquired a new stake in shares of Quantum during the 2nd quarter valued at $3,003,000. Finally, Bank of America Corp DE raised its position in Quantum by 730.5% in the second quarter. Bank of America Corp DE now owns 170,130 shares of the company’s stock valued at $1,871,000 after purchasing an additional 149,645 shares during the last quarter. 63.66% of the stock is owned by institutional investors and hedge funds.

Quantum Company Profile

Quantum Corporation (NASDAQ: QMCO) is a data storage and management company that provides technology for organizations handling large volumes of digital content. Its solutions are designed to help customers store, protect, manage and access unstructured data, including video, images, scientific information and other content-intensive files.

The company’s product portfolio has included Scalar tape libraries and tape storage systems, DXi deduplication appliances, and software for data backup, archiving and disaster recovery.