Quantum (NASDAQ:QMCO) Stock Price Down 14.4% – Here’s What Happened

Quantum Corporation (NASDAQ:QMCO) dropped 14.4% during trading on Monday . The stock traded as low as $7.72 and last traded at $7.73. Approximately 569,864 shares changed hands during trading, an increase of 8% from the average daily volume of 527,396 shares. The stock had previously closed at $9.03.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on QMCO shares. Northland Securities raised Quantum from a “market perform” rating to an “outperform” rating and set a $13.00 price target on the stock in a research note on Friday, November 14th. Wall Street Zen cut shares of Quantum from a “hold” rating to a “sell” rating in a research note on Saturday, August 30th. Northland Capmk raised shares of Quantum from a “hold” rating to a “strong-buy” rating in a report on Friday, November 14th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Quantum in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.67.

Quantum Trading Down 6.8%

The business has a 50 day simple moving average of $8.92 and a 200-day simple moving average of $8.98. The stock has a market capitalization of $101.80 million, a price-to-earnings ratio of -2.44 and a beta of 2.59.

Quantum (NASDAQ:QMCO) last issued its quarterly earnings results on Thursday, November 13th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.29). The company had revenue of $62.72 million for the quarter, compared to analysts’ expectations of $65.88 million. Quantum has set its Q3 2026 guidance at -0.610–0.410 EPS. Research analysts predict that Quantum Corporation will post -5.5 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Activest Wealth Management lifted its holdings in shares of Quantum by 428,200.0% during the 1st quarter. Activest Wealth Management now owns 4,283 shares of the company’s stock valued at $62,000 after acquiring an additional 4,282 shares in the last quarter. Apollon Wealth Management LLC purchased a new position in Quantum in the second quarter valued at about $107,000. AlphaQuest LLC acquired a new stake in Quantum during the 1st quarter valued at approximately $139,000. Geode Capital Management LLC grew its stake in Quantum by 9.1% during the 2nd quarter. Geode Capital Management LLC now owns 69,384 shares of the company’s stock valued at $692,000 after purchasing an additional 5,806 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Quantum during the 2nd quarter worth approximately $46,000. 63.66% of the stock is owned by institutional investors and hedge funds.

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.