Stock Traders Purchase Large Volume of Call Options on Quantum (NASDAQ:QMCO)

Quantum Corporation (NASDAQ:QMCO) was the target of some unusual options trading on Wednesday. Investors purchased 3,824 call options on the stock. This represents an increase of 205% compared to the typical daily volume of 1,254 call options.

Quantum Stock Down 1.4%

NASDAQ:QMCO opened at $16.63 on Friday. The stock’s 50 day moving average price is $23.52 and its 200 day moving average price is $13.49. The company has a market capitalization of $657.88 million, a PE ratio of -1.53 and a beta of 3.23. Quantum has a 52-week low of $4.19 and a 52-week high of $35.65.

Quantum (NASDAQ:QMCO) last issued its quarterly earnings data on Monday, November 9th. The company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.13. The company had revenue of $89.63 million during the quarter, compared to analysts’ expectations of $82.30 million. Quantum had a negative return on equity of 3.99% and a negative net margin of 73.54%. Quantum has set its Q3 2027 guidance at 0.100-0.300 EPS. As a group, sell-side analysts anticipate that Quantum will post 0.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

QMCO has been the subject of a number of recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Quantum in a research note on Monday, September 21st. Lake Street Capital set a $29.00 target price on shares of Quantum and gave the stock a “buy” rating in a research note on Monday, September 14th. Northland Securities upgraded Quantum from a “market perform” rating to an “outperform” rating and set a $24.00 price target on the stock in a research note on Tuesday, August 11th. Litchfield Hills Research began coverage on shares of Quantum in a research note on Monday, August 10th. They issued a “buy” rating on the stock. Finally, Cantor Fitzgerald boosted their price objective on shares of Quantum from $29.00 to $32.00 and gave the stock an “overweight” rating in a research report on Tuesday. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $28.33.

Institutional Trading of Quantum

Several institutional investors and hedge funds have recently bought and sold shares of QMCO. State Street Corp increased its stake in Quantum by 4.3% in the second quarter. State Street Corp now owns 75,914 shares of the company’s stock valued at $835,000 after purchasing an additional 3,100 shares during the period. Squarepoint Ops LLC acquired a new stake in shares of Quantum during the second quarter worth about $372,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Quantum during the second quarter worth about $381,000. Alyeska Investment Group L.P. purchased a new position in shares of Quantum during the second quarter worth about $29,193,000. Finally, Bank of America Corp DE grew its holdings in shares of Quantum by 730.5% during the second quarter. Bank of America Corp DE now owns 170,130 shares of the company’s stock worth $1,871,000 after buying an additional 149,645 shares during the last quarter. Hedge funds and other institutional investors own 63.66% of the company’s stock.

About Quantum

Quantum Corporation provides data storage and management solutions for organizations that create and retain large volumes of unstructured data, including video, images and other digital content. Its customers include businesses and institutions in areas such as media and entertainment, government, life sciences and industrial markets. The company’s offerings include StorNext shared-storage and data-management software, Scalar tape libraries for backup and archiving, and ActiveScale object storage.