Quantum (NASDAQ:QMCO) Sees Large Volume Increase – Still a Buy?

Quantum Corporation (NASDAQ:QMCO) shares saw unusually-strong trading volume on Friday . Approximately 823,839 shares changed hands during mid-day trading, a decline of 11% from the previous session’s volume of 928,120 shares.The stock last traded at $26.9980 and had previously closed at $24.68.

Analyst Ratings Changes

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

Quantum Stock Performance

The company has a 50 day simple moving average of $12.41 and a 200 day simple moving average of $8.81. The company has a market capitalization of $1.02 billion, a PE ratio of -1.97 and a beta of 2.97.

Quantum (NASDAQ:QMCO) last released its earnings results on Monday, August 10th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.35. The firm had revenue of $80.80 million during the quarter, compared to analysts’ expectations of $75.05 million. Quantum has set its Q2 2027 guidance at 0.020-0.220 EPS. As a group, equities research analysts anticipate that Quantum Corporation will post -0.28 EPS for the current year.

Institutional Investors Weigh In On Quantum

A number of hedge funds have recently modified their holdings of QMCO. Two Seas Capital LP acquired a new position in Quantum during the second quarter worth about $27,374,000. BlackRock Inc. acquired a new stake in Quantum in the 2nd quarter valued at about $3,003,000. Marshall Wace LLP purchased a new position in Quantum in the 2nd quarter worth approximately $1,775,000. UBS Group AG lifted its stake in Quantum by 170.0% in the 3rd quarter. UBS Group AG now owns 162,605 shares of the company’s stock worth $1,613,000 after purchasing an additional 102,384 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Quantum by 97.5% during the 4th quarter. Geode Capital Management LLC now owns 156,871 shares of the company’s stock worth $1,012,000 after purchasing an additional 77,444 shares during the last quarter. 63.66% of the stock is currently owned by institutional investors and hedge funds.

About Quantum

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.