Quantum (NASDAQ:QMCO) Stock Price Down 7.8% – Should You Sell?

Quantum Corporation (NASDAQ:QMCO)’s stock price dropped 7.8% during mid-day trading on Friday. The company traded as low as $15.03 and last traded at $15.3250. Approximately 344,328 shares traded hands during trading, a decline of 70% from the average session volume of 1,144,015 shares. The stock had previously closed at $16.63.

Analyst Ratings Changes

Several brokerages have recently issued reports on QMCO. Litchfield Hills Research started coverage on shares of Quantum in a research report on Monday, August 10th. They set a “buy” rating on the stock. Wall Street Zen upgraded shares of Quantum from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Lake Street Capital set a $29.00 target price on shares of Quantum and gave the stock a “buy” rating in a research note on Monday, September 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Quantum in a research note on Monday, September 21st. Finally, Cantor Fitzgerald increased their target price on shares of Quantum from $29.00 to $32.00 and gave the stock an “overweight” rating in a report on Tuesday. Five analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $28.33.

Quantum Stock Performance

The stock has a market capitalization of $601.31 million, a price-to-earnings ratio of -1.40 and a beta of 3.23. The company has a 50 day moving average of $23.52 and a 200 day moving average of $13.49.

Quantum (NASDAQ:QMCO) last issued its quarterly earnings results on Monday, November 9th. The company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.13. The company had revenue of $89.63 million for the quarter, compared to the consensus estimate of $82.30 million. Quantum had a negative return on equity of 3.99% and a negative net margin of 73.54%. Quantum has set its Q3 2027 guidance at 0.100-0.300 EPS. As a group, research analysts expect that Quantum Corporation will post 0.31 EPS for the current fiscal year.

Institutional Trading of Quantum

A number of large investors have recently made changes to their positions in the company. Alyeska Investment Group L.P. acquired a new stake in Quantum in the second quarter valued at approximately $29,193,000. Two Seas Capital LP acquired a new position in Quantum during the 2nd quarter worth approximately $27,374,000. Manatuck Hill Partners LLC acquired a new position in Quantum during the 2nd quarter worth approximately $3,850,000. BlackRock Inc. purchased a new stake in shares of Quantum in the 2nd quarter valued at approximately $3,003,000. Finally, Bank of America Corp DE increased its position 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 purchasing an additional 149,645 shares during the last quarter. 63.66% of the stock is currently owned by hedge funds and other institutional investors.

Quantum Company Profile

Quantum Corporation provides data storage and management solutions for organizations that create and retain large volumes of unstructured data, including video, images and other digital content. Its customers include businesses and institutions in areas such as media and entertainment, government, life sciences and industrial markets. The company’s offerings include StorNext shared-storage and data-management software, Scalar tape libraries for backup and archiving, and ActiveScale object storage.