Cygnus Capital Advisors LLC Sells 49,763 Shares of Quantum Corporation $QMCO

Cygnus Capital Advisors LLC trimmed its holdings in shares of Quantum Corporation (NASDAQ:QMCO) by 40.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 74,323 shares of the company’s stock after selling 49,763 shares during the period. Cygnus Capital Advisors LLC owned approximately 0.19% of Quantum worth $818,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in QMCO. Bank of America Corp DE grew its stake in shares of Quantum by 337.5% in the 3rd quarter. Bank of America Corp DE now owns 2,896 shares of the company’s stock worth $29,000 after buying an additional 2,234 shares during the last quarter. BNP Paribas Financial Markets raised its stake in 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 Quantum in the second quarter worth $46,000. R Squared Ltd bought a new stake in Quantum in the first quarter worth $58,000. Finally, Millennium Management LLC purchased a new stake in shares of Quantum in the fourth quarter worth $73,000. 63.66% of the stock is owned by institutional investors.

Quantum Stock Performance

QMCO stock opened at $24.73 on Tuesday. The company has a market cap of $974.61 million, a price-to-earnings ratio of -1.87 and a beta of 3.14. The business’s 50-day moving average is $15.75 and its two-hundred day moving average is $10.88. Quantum Corporation has a fifty-two week low of $4.19 and a fifty-two week high of $27.80.

Quantum (NASDAQ:QMCO) last released its quarterly earnings results on Monday, August 10th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.35. The firm had revenue of $80.80 million for the quarter, compared to the consensus estimate of $75.05 million. Quantum has set its Q2 2027 guidance at 0.020-0.220 EPS. Equities analysts predict that Quantum Corporation will post 0.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on QMCO shares. Lake Street Capital restated a “buy” rating and set a $24.00 price target (up from $20.00) on shares of Quantum in a report on Tuesday, August 11th. Needham & Company LLC assumed coverage on shares of Quantum in a research note on Wednesday, June 3rd. They issued a “buy” rating on the stock. Northland Securities raised shares of Quantum from a “market perform” rating to an “outperform” rating and set a $24.00 price objective on the stock in a research report on Tuesday, August 11th. Litchfield Hills Research assumed coverage on shares of Quantum in a research note on Monday, August 10th. They set a “buy” rating for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Quantum in a report on Wednesday, June 24th. Four investment 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, Quantum currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.00.

Quantum 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.