Short Interest in Quantum Co. (NASDAQ:QMCO) Expands By 25.9%

Quantum Co. (NASDAQ:QMCO) was the target of a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 873,300 shares, a growth of 25.9% from the November 30th total of 693,500 shares. Approximately 21.2% of the company’s stock are short sold. Based on an average daily volume of 2,620,000 shares, the days-to-cover ratio is currently 0.3 days.

Quantum Stock Performance

QMCO stock traded down $7.31 during midday trading on Tuesday, reaching $54.85. 1,334,593 shares of the company’s stock traded hands, compared to its average volume of 755,747. The firm’s fifty day moving average price is $16.52 and its 200-day moving average price is $9.57. Quantum has a 52 week low of $2.22 and a 52 week high of $90.64.

Analyst Ratings Changes

Separately, Northland Securities reiterated a “market perform” rating and issued a $5.00 price target (up previously from $0.25) on shares of Quantum in a report on Thursday, November 14th.

Insiders Place Their Bets

In other news, CEO James J. Lerner sold 6,505 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $4.43, for a total transaction of $28,817.15. Following the transaction, the chief executive officer now owns 107,491 shares of the company’s stock, valued at $476,185.13. This represents a 5.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders sold 15,561 shares of company stock worth $68,935. 3.90% of the stock is currently owned by company insiders.

Quantum Company Profile

Quantum Corporation provides products for storing and managing digital video and unstructured data in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers Myriad All-Flash File and Object Storage Software for high performance enterprise unstructured data applications such as AI, machine learning, and data analytics; Unified Surveillance Platform Software that unified compute and storage for video surveillance recording, storage, and analytics; StorNext Hybrid Flash/Disk File Storage Software for video editing, post-production, and streaming applications, as well as digital file archives; and CatDV Asset Management Software for indexing, cataloging, enriching video, audio, and image files, and workflow orchestration.