Quantum (NASDAQ:QMCO) Sets New 1-Year High – Still a Buy?

Quantum Corporation (NASDAQ:QMCO)’s stock price hit a new 52-week high during trading on Tuesday. The stock traded as high as $35.65 and last traded at $34.01, with a volume of 1648312 shares changing hands. The stock had previously closed at $34.50.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on QMCO shares. Litchfield Hills Research started coverage on shares of Quantum in a research report on Monday, August 10th. They set a “buy” rating on the stock. Lake Street Capital set a $29.00 price objective on shares of Quantum and gave the company a “buy” rating in a research report on Monday, September 14th. Northland Securities raised Quantum from a “market perform” rating to an “outperform” rating and set a $24.00 price objective on the stock in a research note on Tuesday, August 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Quantum in a report on Monday, September 21st. Finally, Wall Street Zen raised Quantum from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Quantum has a consensus rating of “Moderate Buy” and an average target price of $26.50.

Quantum Price Performance

The stock’s 50-day moving average price is $23.38 and its 200 day moving average price is $14.38. The firm has a market cap of $1.22 billion, a P/E ratio of -2.35 and a beta of 3.08.

Quantum (NASDAQ:QMCO) last released its earnings results on Monday, August 10th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.35. The business had revenue of $80.80 million during the quarter, compared to the consensus estimate of $75.05 million. Quantum has set its Q2 2027 guidance at 0.020-0.220 EPS. As a group, analysts forecast that Quantum Corporation will post 0.31 EPS for the current fiscal year.

Institutional Trading of Quantum

A number of hedge funds and other institutional investors have recently modified their holdings of QMCO. Man Group plc bought a new stake in Quantum during the second quarter worth about $755,000. BlackRock Inc. bought a new position in Quantum in the second quarter valued at approximately $3,003,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Quantum during the 2nd quarter worth approximately $381,000. Alyeska Investment Group L.P. acquired a new position in shares of Quantum during the 2nd quarter worth approximately $29,193,000. Finally, Manatuck Hill Partners LLC acquired a new position in shares of Quantum during the 2nd quarter worth approximately $3,850,000. Institutional investors and hedge funds own 63.66% of the company’s stock.

About Quantum

Quantum Corporation (NASDAQ:QMCO) provides data storage, management and protection solutions for organizations that generate and retain large volumes of unstructured data. Its customers include businesses, media and entertainment companies, government agencies, research institutions and other organizations that require long-term data preservation, rapid access and secure information management.

The company’s portfolio includes tape libraries and drives based on Linear Tape-Open (LTO) technology, disk-based backup and deduplication systems, and software for managing files, objects and data workflows.