Quantum Corporation (NYSE:QTM) shares rose 6.1% during mid-day trading on Thursday . The company traded as high as $4.93 and last traded at $4.85. Approximately 595,000 shares were traded during trading, an increase of 100% from the average daily volume of 296,980 shares. The stock had previously closed at $4.57.

QTM has been the subject of a number of analyst reports. BidaskClub lowered Quantum Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Lake Street Capital reduced their price objective on Quantum Corporation from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Thursday, August 10th. Finally, Zacks Investment Research upgraded Quantum Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, October 11th.

The company has a current ratio of 0.78, a quick ratio of 0.56 and a debt-to-equity ratio of -0.57.

Quantum Corporation (NYSE:QTM) last announced its earnings results on Thursday, November 9th. The technology company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.13). The business had revenue of $107.10 million for the quarter, compared to the consensus estimate of $122.20 million. Quantum Corporation had a negative net margin of 1.77% and a negative return on equity of 7.26%. The firm’s revenue was down 20.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.02 EPS. research analysts forecast that Quantum Corporation will post 0.09 earnings per share for the current fiscal year.

In other news, insider Jon W. Gacek sold 12,254 shares of the business’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $5.50, for a total value of $67,397.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 8.55% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Quantum Corporation by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 9,332,945 shares of the technology company’s stock worth $8,120,000 after acquiring an additional 383,871 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Quantum Corporation by 26.8% during the first quarter. Renaissance Technologies LLC now owns 8,026,252 shares of the technology company’s stock valued at $6,983,000 after buying an additional 1,695,300 shares in the last quarter. FMR LLC grew its holdings in shares of Quantum Corporation by 2.3% during the first quarter. FMR LLC now owns 3,490,385 shares of the technology company’s stock valued at $3,037,000 after buying an additional 79,720 shares in the last quarter. Neuberger Berman Group LLC grew its holdings in shares of Quantum Corporation by 5.2% during the third quarter. Neuberger Berman Group LLC now owns 756,445 shares of the technology company’s stock valued at $4,629,000 after buying an additional 37,168 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Quantum Corporation by 94.4% during the first quarter. Goldman Sachs Group Inc. now owns 700,507 shares of the technology company’s stock valued at $609,000 after buying an additional 340,079 shares in the last quarter. Institutional investors and hedge funds own 64.70% of the company’s stock.

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About Quantum Corporation

Quantum Corporation focuses on scale-out storage, archive and data protection, providing solutions for capturing, sharing, managing and preserving digital assets over the entire data lifecycle. The Company’s end-to-end tiered storage solutions enable users to maximize the value of their data by making it accessible whenever and wherever needed, retaining it indefinitely and reducing total cost and complexity.

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