Quantum (NASDAQ:QMCO) Shares Down 7.8% – Here’s Why

Quantum Corporation (NASDAQ:QMCO)’s stock price traded down 7.8% during mid-day trading on Friday. The company traded as low as $15.03 and last traded at $15.3250. 344,328 shares changed hands during trading, a decline of 70% from the average daily volume of 1,144,015 shares. The stock had previously closed at $16.63.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Lake Street Capital set a $29.00 price objective on Quantum and gave the stock a “buy” rating in a report on Monday, September 14th. Cantor Fitzgerald lifted their target price on Quantum from $29.00 to $32.00 and gave the company an “overweight” rating in a report on Tuesday, November 10th. Northland Securities upgraded Quantum from a “market perform” rating to an “outperform” rating and set a $24.00 price target on the stock in a research report on Tuesday, August 11th. Wall Street Zen upgraded Quantum from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Finally, Litchfield Hills Research initiated coverage on shares of Quantum in a report on Monday, August 10th. They issued a “buy” rating on the stock. Five investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $28.33.

Quantum Price Performance

The company has a market cap of $606.85 million, a P/E ratio of -1.41 and a beta of 3.23. The company has a 50 day moving average of $23.34 and a 200-day moving average of $13.53.

Quantum (NASDAQ:QMCO) last posted its earnings results on Monday, November 9th. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.12 by $0.13. Quantum had a negative return on equity of 3.99% and a negative net margin of 73.54%. The business had revenue of $89.63 million during the quarter, compared to analysts’ expectations of $82.30 million. Quantum has set its Q3 2027 guidance at 0.100-0.300 EPS. Research analysts anticipate that Quantum Corporation will post 0.31 EPS for the current year.

Institutional Investors Weigh In On Quantum

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Pathstone Holdings LLC bought a new stake in Quantum during the third quarter valued at approximately $273,000. Sona Asset Management US LLC bought a new position in shares of Quantum in the 1st quarter worth $333,000. Squarepoint Ops LLC bought a new position in shares of Quantum in the 2nd quarter worth $372,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Quantum during the 2nd quarter valued at $381,000. Finally, Entropy Technologies LP purchased a new stake in shares of Quantum during the 3rd quarter valued at $714,000. 63.66% of the stock is owned by hedge funds and other institutional investors.

Quantum Company Profile

Quantum Corporation provides data storage and management solutions for organizations that create and retain large volumes of unstructured data, including video, images and other digital content. Its customers include businesses and institutions in areas such as media and entertainment, government, life sciences and industrial markets. The company’s offerings include StorNext shared-storage and data-management software, Scalar tape libraries for backup and archiving, and ActiveScale object storage.