Quantum (NASDAQ:QMCO) Trading Up 7.7% – Here’s What Happened

Quantum Corporation (NASDAQ:QMCO) shot up 7.7% on Wednesday . The stock traded as high as $27.50 and last traded at $27.6280. 739,814 shares changed hands during mid-day trading, a decline of 24% from the average session volume of 978,823 shares. The stock had previously closed at $25.65.

Analysts Set New Price Targets

QMCO has been the subject of a number of analyst reports. Wall Street Zen raised shares of Quantum from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Needham & Company LLC assumed coverage on Quantum in a research report on Wednesday, June 3rd. They issued a “buy” rating on the stock. Northland Securities raised Quantum from a “market perform” rating to an “outperform” rating and set a $24.00 price objective for the company in a research note on Tuesday, August 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Quantum in a report on Monday. Finally, Litchfield Hills Research began coverage on Quantum in a research note on Monday, August 10th. They issued a “buy” rating on the stock. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.50.

Quantum Stock Performance

The firm has a market cap of $1.13 billion, a P/E ratio of -2.17 and a beta of 3.14. The stock’s 50-day moving average is $18.82 and its 200 day moving average is $12.34.

Quantum (NASDAQ:QMCO) last posted its earnings results on Monday, August 10th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.35. The business had revenue of $80.80 million for the quarter, compared to the consensus estimate of $75.05 million. Quantum has set its Q2 2027 guidance at 0.020-0.220 EPS. On average, research analysts anticipate that Quantum Corporation will post 0.31 EPS for the current year.

Hedge Funds Weigh In On Quantum

Several institutional investors have recently modified their holdings of the business. R Squared Ltd acquired a new position in shares of Quantum in the 1st quarter valued at approximately $58,000. Squarepoint Ops LLC acquired a new stake in Quantum during the 2nd quarter worth approximately $372,000. Susquehanna Fundamental Investments LLC acquired a new stake in Quantum during the 2nd quarter worth approximately $381,000. Man Group plc bought a new position in Quantum in the second quarter valued at approximately $755,000. Finally, Sona Asset Management US LLC bought a new position in Quantum in the first quarter valued at approximately $333,000. Institutional investors own 63.66% of the company’s stock.

About Quantum

Quantum Corporation (NASDAQ: QMCO) is a data storage and management company that provides technology for organizations handling large volumes of digital content. Its solutions are designed to help customers store, protect, manage and access unstructured data, including video, images, scientific information and other content-intensive files.

The company’s product portfolio has included Scalar tape libraries and tape storage systems, DXi deduplication appliances, and software for data backup, archiving and disaster recovery.