Quantum (NASDAQ:QMCO) Trading Up 6.6% – Time to Buy?

Quantum Corporation (NASDAQ:QMCO)’s stock price rose 6.6% during trading on Thursday . The company traded as high as $22.92 and last traded at $23.3730. Approximately 477,657 shares were traded during trading, a decline of 47% from the average session volume of 906,133 shares. The stock had previously closed at $21.93.

Wall Street Analysts Forecast Growth

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

Quantum Price Performance

The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of -1.97 and a beta of 2.97. The company has a 50-day simple moving average of $12.68 and a two-hundred day simple moving average of $8.93.

Quantum (NASDAQ:QMCO) last announced its quarterly earnings results on Monday, August 10th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.35. The firm 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. Research analysts anticipate that Quantum Corporation will post -0.28 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. NBC Securities Inc. bought a new position in Quantum in the 4th quarter worth about $26,000. Bank of America Corp DE increased its stake in shares of Quantum by 337.5% in the third quarter. Bank of America Corp DE now owns 2,896 shares of the company’s stock valued at $29,000 after purchasing an additional 2,234 shares during the period. BNP Paribas Financial Markets raised its holdings in shares of Quantum by 322.1% during the third quarter. BNP Paribas Financial Markets now owns 3,461 shares of the company’s stock valued at $34,000 after buying an additional 2,641 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Quantum during the second quarter valued at approximately $46,000. Finally, R Squared Ltd acquired a new position in shares of Quantum during the first quarter worth approximately $58,000. 63.66% of the stock is owned by institutional investors and hedge funds.

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.