Quantum Corporation (NASDAQ:QMCO) Receives $17.67 Average Target Price from Brokerages

Shares of Quantum Corporation (NASDAQ:QMCO) have been given an average recommendation of “Moderate Buy” by the five analysts that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $17.6667.

Several brokerages recently issued reports on QMCO. Needham & Company LLC began coverage on Quantum in a research note on Wednesday, June 3rd. They issued a “buy” rating for the company. Lake Street Capital reissued a “buy” rating and issued a $20.00 price objective (up from $8.00) on shares of Quantum in a research note on Wednesday, June 3rd. Wall Street Zen raised Quantum from a “sell” rating to a “hold” rating in a research note on Saturday, February 21st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Quantum in a research note on Friday, March 27th.

Institutional Investors Weigh In On Quantum

Several hedge funds have recently bought and sold shares of the business. Sona Asset Management US LLC purchased a new stake in Quantum in the 1st quarter worth about $333,000. R Squared Ltd acquired a new position in Quantum in the 1st quarter worth about $58,000. XTX Topco Ltd acquired a new position in Quantum in the 4th quarter worth about $77,000. Millennium Management LLC acquired a new position in Quantum in the 4th quarter worth about $73,000. Finally, Engineers Gate Manager LP acquired a new position in Quantum in the 4th quarter worth about $106,000. 63.66% of the stock is owned by hedge funds and other institutional investors.

Quantum Trading Up 5.2%

Shares of Quantum stock opened at $13.74 on Monday. The stock has a 50-day moving average price of $8.84 and a 200 day moving average price of $7.36. The company has a market cap of $201.15 million, a P/E ratio of -5.82 and a beta of 2.97. Quantum has a 1 year low of $4.19 and a 1 year high of $18.48.

About Quantum

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.