Quantum Corporation (NASDAQ:QMCO) Given Average Rating of “Hold” by Brokerages

Quantum Corporation (NASDAQ:QMCO) has received a consensus recommendation of “Hold” from the five analysts that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $19.3333.

A number of equities research analysts have recently issued reports on the stock. Needham & Company LLC set a $20.00 price target on shares of Quantum in a report on Monday, August 11th. Wall Street Zen downgraded shares of Quantum from a “hold” rating to a “sell” rating in a research report on Saturday, August 30th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Quantum in a research report on Wednesday, October 8th.

Quantum Price Performance

NASDAQ QMCO opened at $9.39 on Tuesday. The company’s 50 day simple moving average is $9.67 and its 200 day simple moving average is $9.74. Quantum has a 12 month low of $2.88 and a 12 month high of $90.64. The company has a market capitalization of $125.07 million, a P/E ratio of -2.11 and a beta of 2.66.

Institutional Investors Weigh In On Quantum

Hedge funds and other institutional investors have recently modified their holdings of the stock. Allianz Asset Management GmbH raised its stake in Quantum by 87.8% during the 1st quarter. Allianz Asset Management GmbH now owns 962,127 shares of the company’s stock valued at $13,835,000 after purchasing an additional 449,711 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Quantum in the second quarter valued at about $1,775,000. AlphaQuest LLC increased its stake in Quantum by 655.0% during the third quarter. AlphaQuest LLC now owns 35,536 shares of the company’s stock valued at $353,000 after acquiring an additional 30,829 shares during the period. Sassicaia Capital Advisers LLC acquired a new position in Quantum in the 2nd quarter valued at approximately $232,000. Finally, Virtu Financial LLC acquired a new position in shares of Quantum in the 1st quarter valued at $284,000. Institutional investors and hedge funds own 63.66% of the company’s stock.

Quantum Company Profile

Quantum Corporation provides products for storing and managing digital video and unstructured data in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers Myriad All-Flash File and Object Storage Software for high performance enterprise unstructured data applications such as AI, machine learning, and data analytics; Unified Surveillance Platform Software that unified compute and storage for video surveillance recording, storage, and analytics; StorNext Hybrid Flash/Disk File Storage Software for video editing, post-production, and streaming applications, as well as digital file archives; and CatDV Asset Management Software for indexing, cataloging, enriching video, audio, and image files, and workflow orchestration.