Brokerages Set Quantum Corporation (NASDAQ:QMCO) Target Price at $13.67

Quantum Corporation (NASDAQ:QMCO) has earned an average recommendation of “Moderate Buy” from the five brokerages that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $13.6667.

Several equities analysts have recently issued reports on the company. Lake Street Capital started coverage on Quantum in a research note on Wednesday, March 25th. They issued a “buy” rating and a $8.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Quantum in a report on Friday, March 27th. Finally, Wall Street Zen upgraded shares of Quantum from a “sell” rating to a “hold” rating in a report on Saturday, February 21st.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. NBC Securities Inc. acquired a new stake in shares of Quantum during the 4th quarter worth about $26,000. Bank of America Corp DE boosted its holdings 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 valued at $29,000 after buying an additional 2,234 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Quantum by 322.1% in the 3rd 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 in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Quantum in the 2nd quarter valued at $46,000. Finally, R Squared Ltd purchased a new stake in Quantum in the first quarter valued at $58,000. 63.66% of the stock is owned by institutional investors and hedge funds.

Quantum Stock Performance

NASDAQ QMCO opened at $8.16 on Thursday. Quantum has a one year low of $4.19 and a one year high of $15.33. The firm has a market cap of $119.45 million, a price-to-earnings ratio of -3.46 and a beta of 2.90. The firm has a 50 day simple moving average of $6.68 and a 200-day simple moving average of $6.93.

Quantum (NASDAQ:QMCO) last announced its quarterly earnings data on Tuesday, February 17th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.09. The company had revenue of $74.59 million during the quarter, compared to analyst estimates of $66.36 million. Equities analysts predict that Quantum will post -2.58 EPS for the current fiscal year.

About Quantum

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.