Sona Asset Management US LLC Invests $333,000 in Quantum Corporation $QMCO

Sona Asset Management US LLC purchased a new position in shares of Quantum Corporation (NASDAQ:QMCO) during the first quarter, HoldingsChannel reports. The firm purchased 70,092 shares of the company’s stock, valued at approximately $333,000.

Several other institutional investors also recently modified their holdings of QMCO. Marshall Wace LLP acquired a new stake in Quantum in the second quarter valued at $1,775,000. UBS Group AG lifted its holdings in Quantum by 170.0% during the 3rd quarter. UBS Group AG now owns 162,605 shares of the company’s stock worth $1,613,000 after buying an additional 102,384 shares during the period. Geode Capital Management LLC grew its position in shares of Quantum by 97.5% in the 4th quarter. Geode Capital Management LLC now owns 156,871 shares of the company’s stock valued at $1,012,000 after buying an additional 77,444 shares during the last quarter. State Street Corp grew its position in shares of Quantum by 231.7% in the 4th quarter. State Street Corp now owns 90,714 shares of the company’s stock valued at $585,000 after buying an additional 63,367 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Quantum by 18.3% in the 3rd quarter. Vanguard Group Inc. now owns 303,597 shares of the company’s stock valued at $3,012,000 after buying an additional 46,919 shares during the last quarter. Institutional investors own 63.66% of the company’s stock.

Quantum Trading Down 1.2%

Shares of QMCO opened at $10.97 on Tuesday. The stock has a market capitalization of $432.00 million, a P/E ratio of -1.36 and a beta of 2.95. The firm’s fifty day simple moving average is $11.53 and its two-hundred day simple moving average is $8.24. Quantum Corporation has a 12 month low of $4.19 and a 12 month high of $18.48.

Wall Street Analyst Weigh In

QMCO has been the subject of a number of analyst reports. Lake Street Capital restated a “buy” rating on shares of Quantum in a research report on Friday, June 26th. Northland Securities cut Quantum from an “outperform” rating to a “market perform” rating and set a $13.00 target price on the stock. in a report on Friday, June 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Quantum in a report on Wednesday, June 24th. Finally, Needham & Company LLC assumed coverage on shares of Quantum in a research report on Wednesday, June 3rd. They set a “buy” rating for the company. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $17.67.

Quantum Company 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.