Quantum Corporation (NASDAQ:QMCO) Short Interest Update

Quantum Corporation (NASDAQ:QMCO) was the recipient of a large growth in short interest in June. As of June 30th, there was short interest totaling 2,146,146 shares, a growth of 111.7% from the June 15th total of 1,013,568 shares. Approximately 5.5% of the company’s stock are short sold. Based on an average trading volume of 1,217,407 shares, the short-interest ratio is currently 1.8 days.

Institutional Trading of Quantum

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC raised its holdings in Quantum by 9.1% in the second quarter. Geode Capital Management LLC now owns 69,384 shares of the company’s stock valued at $692,000 after acquiring an additional 5,806 shares in the last quarter. Marshall Wace LLP acquired a new position in Quantum during the 2nd quarter worth $1,775,000. Raymond James Financial Inc. acquired a new position in Quantum during the 2nd quarter worth $46,000. Vanguard Group Inc. increased its position in shares of Quantum by 18.3% in the 3rd quarter. Vanguard Group Inc. now owns 303,597 shares of the company’s stock worth $3,012,000 after purchasing an additional 46,919 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of Quantum by 322.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,461 shares of the company’s stock worth $34,000 after purchasing an additional 2,641 shares during the last quarter. Institutional investors own 63.66% of the company’s stock.

Wall Street Analysts Forecast Growth

QMCO has been the subject of a number of analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Quantum in a report on Wednesday, June 24th. Northland Securities lowered shares of Quantum from an “outperform” rating to a “market perform” rating and set a $13.00 price objective on the stock. in a research note on Friday, June 26th. Needham & Company LLC initiated coverage on shares of Quantum in a research report on Wednesday, June 3rd. They set a “buy” rating on the stock. Finally, Lake Street Capital restated a “buy” rating on shares of Quantum in a research note on Friday, June 26th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $17.67.

Quantum Trading Down 6.8%

QMCO stock traded down $0.70 during midday trading on Thursday, hitting $9.60. 941,424 shares of the company’s stock were exchanged, compared to its average volume of 760,224. Quantum has a 12-month low of $4.19 and a 12-month high of $18.48. The firm has a 50 day moving average price of $11.20 and a 200-day moving average price of $8.01. The stock has a market capitalization of $378 million, a price-to-earnings ratio of -1.19 and a beta of 2.95.

Quantum Company Profile

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.