Quantum (NASDAQ:QMCO) Shares Gap Down – Here’s Why

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 trading hands.

Wall Street Analysts Forecast Growth

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

Quantum Stock Performance

The firm’s 50-day moving average price is $25.39 and its two-hundred day moving average price is $15.66. The firm has a market capitalization of $694.40 million, a price-to-earnings ratio of -1.33 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 business 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. As a group, equities research analysts anticipate that Quantum Corporation will post 0.31 EPS for the current year.

Hedge Funds Weigh In On Quantum

Hedge funds and other institutional investors have recently modified their holdings of the stock. R Squared Ltd acquired a new stake in Quantum in the 1st quarter valued at $58,000. Squarepoint Ops LLC acquired a new position in Quantum during the second quarter worth $372,000. Susquehanna Fundamental Investments LLC acquired a new position in Quantum during the second quarter worth $381,000. Man Group plc acquired a new position in Quantum during the second quarter worth $755,000. Finally, Sona Asset Management US LLC bought a new position in shares of Quantum during the first quarter valued at $333,000. Institutional investors own 63.66% of the company’s stock.

Quantum Company Profile

Quantum Corporation (NASDAQ: QMCO) provides data storage, management and protection solutions for organizations that generate and retain large volumes of unstructured data. Its offerings are designed to help customers store, protect, archive and access information across on-premises, cloud and hybrid environments.

The company’s product portfolio has included Scalar tape libraries and LTO tape storage products, DXi deduplication and backup appliances, and software-defined storage solutions such as ActiveScale object storage.