Quantum (NASDAQ:QMCO) Stock Price Down 11.2% – Here’s Why

Quantum Corporation (NASDAQ:QMCO)’s stock price fell 11.2% on Thursday. The company traded as low as $21.03 and last traded at $21.1930. 536,777 shares were traded during trading, a decline of 50% from the average session volume of 1,084,388 shares. The stock had previously closed at $23.86.

Analysts Set New Price Targets

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

Quantum Stock Performance

The business’s 50 day simple moving average is $25.02 and its 200-day simple moving average is $15.16. The stock has a market capitalization of $819.77 million, a price-to-earnings ratio of -1.58 and a beta of 3.08.

Quantum (NASDAQ:QMCO) last posted its earnings results on Monday, August 10th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of ($0.17) by $0.35. The firm 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, sell-side analysts expect that Quantum Corporation will post 0.31 EPS for the current year.

Hedge Funds Weigh In On Quantum

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. R Squared Ltd acquired a new stake in Quantum in the 1st quarter valued at approximately $58,000. Squarepoint Ops LLC bought a new stake in Quantum during the 2nd quarter valued at $372,000. Susquehanna Fundamental Investments LLC acquired a new position in Quantum during the 2nd quarter worth $381,000. Man Group plc acquired a new position in Quantum during the 2nd quarter worth $755,000. Finally, Sona Asset Management US LLC acquired a new position in Quantum during the 1st quarter worth $333,000. 63.66% of the stock is owned by institutional investors.

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.