Quantum Corporation (NASDAQ:QMCO) Receives Average Rating of “Hold” from Brokerages

Shares of Quantum Corporation (NASDAQ:QMCO) have received a consensus rating of “Hold” from the five research firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $17.6667.

Several equities research analysts recently issued reports on QMCO shares. Needham & Company LLC began coverage on shares of Quantum in a report on Wednesday, June 3rd. They issued a “buy” rating for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Quantum in a report on Wednesday, June 24th. Litchfield Hills Research began coverage on shares of Quantum in a research report on Monday. They issued a “buy” rating for the company. Lake Street Capital reissued a “buy” rating on shares of Quantum in a research note on Friday, June 26th. Finally, Northland Securities downgraded shares of Quantum from an “outperform” rating to a “market perform” rating and set a $13.00 price objective on the stock. in a research report on Friday, June 26th.

Quantum Stock Performance

Shares of NASDAQ QMCO traded down $0.35 during trading on Monday, hitting $11.69. The company had a trading volume of 215,444 shares, compared to its average volume of 769,610. The stock has a 50 day simple moving average of $11.95 and a 200 day simple moving average of $8.47. Quantum has a 12 month low of $4.19 and a 12 month high of $18.48. The firm has a market capitalization of $460.59 million, a P/E ratio of -1.45 and a beta of 2.97.

Institutional Trading of Quantum

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in Quantum in the 2nd quarter worth approximately $3,003,000. Sona Asset Management US LLC purchased a new stake in Quantum during the 1st quarter valued at approximately $333,000. R Squared Ltd bought a new stake in shares of Quantum during the first quarter valued at approximately $58,000. XTX Topco Ltd purchased a new position in shares of Quantum in the fourth quarter worth $77,000. Finally, Millennium Management LLC purchased a new position in shares of Quantum in the fourth quarter worth $73,000. Institutional investors own 63.66% of the company’s stock.

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.