Quantum (NASDAQ:QMCO) Stock Price Up 8.4% – Should You Buy?

Quantum Corporation (NASDAQ:QMCO)’s stock price was up 8.4% during trading on Tuesday. The stock traded as high as $18.31 and last traded at $18.1380. 76,922 shares were traded during mid-day trading, a decline of 93% from the average session volume of 1,117,678 shares. The stock had previously closed at $16.73.

Analysts Set New Price Targets

Several research analysts have recently weighed in on QMCO shares. Cantor Fitzgerald began coverage on shares of Quantum in a report on Friday, October 23rd. They issued an “overweight” rating and a $29.00 price target on the stock. Wall Street Zen raised Quantum from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Northland Securities upgraded Quantum from a “market perform” rating to an “outperform” rating and set a $24.00 target price for the company in a research report on Tuesday, August 11th. Lake Street Capital set a $29.00 target price on Quantum and gave the stock a “buy” rating in a research note on Monday, September 14th. Finally, Litchfield Hills Research started coverage on Quantum in a report on Monday, August 10th. They issued a “buy” rating on the stock. Five equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.33.

Quantum Stock Up 8.3%

The business has a fifty day moving average of $24.62 and a 200 day moving average of $13.13. The company has a market cap of $713.95 million, a P/E ratio of -1.37 and a beta of 3.08.

Quantum (NASDAQ:QMCO) last announced its earnings results on Monday, August 10th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates 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, sell-side analysts anticipate that Quantum Corporation will post 0.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Quantum

Several hedge funds and other institutional investors have recently made changes to their positions in the company. R Squared Ltd purchased a new position in Quantum during the 1st quarter valued at $58,000. Squarepoint Ops LLC bought a new stake in shares of Quantum during the second quarter worth $372,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Quantum during the second quarter worth $381,000. Man Group plc bought a new stake in shares of Quantum during the second quarter worth $755,000. Finally, Sona Asset Management US LLC purchased a new stake in shares of Quantum during the first quarter valued at $333,000. Hedge funds and other institutional investors own 63.66% of the company’s stock.

Quantum Company Profile

Quantum Corporation (NASDAQ: QMCO) provides data storage, management and protection solutions for organizations that generate and retain large volumes of unstructured data. Its offerings are designed to help customers store, protect, archive and access information across on-premises, cloud and hybrid environments.

The company’s product portfolio has included Scalar tape libraries and LTO tape storage products, DXi deduplication and backup appliances, and software-defined storage solutions such as ActiveScale object storage.