Cygnus Capital Advisors LLC Sells 49,763 Shares of Quantum Corporation $QMCO

Cygnus Capital Advisors LLC cut its stake in shares of Quantum Corporation (NASDAQ:QMCO) by 40.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 74,323 shares of the company’s stock after selling 49,763 shares during the period. Cygnus Capital Advisors LLC’s holdings in Quantum were worth $818,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Bank of America Corp DE increased its position in Quantum by 337.5% in the third quarter. Bank of America Corp DE now owns 2,896 shares of the company’s stock worth $29,000 after buying an additional 2,234 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of Quantum by 322.1% in the third quarter. BNP Paribas Financial Markets now owns 3,461 shares of the company’s stock worth $34,000 after buying an additional 2,641 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Quantum during the 2nd quarter valued at about $46,000. Millennium Management LLC purchased a new position in shares of Quantum during the 4th quarter valued at about $73,000. Finally, XTX Topco Ltd bought a new position in shares of Quantum during the 4th quarter valued at approximately $77,000. Institutional investors own 63.66% of the company’s stock.

Quantum Stock Performance

NASDAQ:QMCO opened at $24.73 on Tuesday. The stock has a 50-day moving average price of $15.75 and a 200 day moving average price of $10.88. The stock has a market capitalization of $974.61 million, a P/E ratio of -1.87 and a beta of 3.14. Quantum Corporation has a 12-month low of $4.19 and a 12-month high of $27.80.

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Northland Securities raised shares of 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. Litchfield Hills Research began coverage on shares of Quantum in a report on Monday, August 10th. They set a “buy” rating on the stock. Needham & Company LLC initiated coverage on shares of Quantum in a research report on Wednesday, June 3rd. They issued a “buy” rating for the company. Wall Street Zen raised shares of Quantum from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Finally, Lake Street Capital restated a “buy” rating and set a $24.00 price objective (up from $20.00) on shares of Quantum in a research report on Tuesday, August 11th. Four research 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 target price of $24.00.

Quantum Profile

Quantum Corporation (NASDAQ: QMCO) is a technology company that develops and delivers data management and storage solutions for businesses and organizations worldwide. The company’s product portfolio includes hardware, software and cloud-based offerings designed to address backup, archive, primary storage and long-term retention needs. Quantum’s solutions are geared toward data-intensive environments such as media and entertainment, surveillance, government, education and healthcare, where large volumes of digital content must be reliably stored, managed and accessed.

Quantum’s flagship products include the StorNext® data management platform, which provides high-performance shared file storage and workflow acceleration, and the DXi® series of deduplication appliances, which optimize backup and recovery by reducing storage footprints and data transfer times.