Quantum (NASDAQ:QMCO) Sees Strong Trading Volume – Still a Buy?

Quantum Corporation (NASDAQ:QMCO) saw an uptick in trading volume on Friday . 823,839 shares were traded during trading, a decline of 11% from the previous session’s volume of 928,120 shares.The stock last traded at $26.9980 and had previously closed at $24.68.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Lake Street Capital restated a “buy” rating and issued a $24.00 target price (up from $20.00) on shares of Quantum in a report on Tuesday. Litchfield Hills Research started coverage on Quantum in a report on Monday. 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 set a “buy” rating on the stock. Northland Securities raised shares of Quantum from a “market perform” rating to an “outperform” rating and set a $24.00 price objective for the company in a report on Tuesday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Quantum in a research report on Wednesday, June 24th. Four research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Quantum presently has a consensus rating of “Moderate Buy” and an average target price of $24.00.

Quantum Stock Up 5.2%

The firm has a 50-day moving average of $12.41 and a two-hundred day moving average of $8.81. The company has a market capitalization of $1.02 billion, a PE ratio of -1.97 and a beta of 2.97.

Quantum (NASDAQ:QMCO) last posted its earnings results on Monday, August 10th. The company reported $0.18 EPS for the quarter, beating 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, equities research analysts expect that Quantum Corporation will post -0.28 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Two Seas Capital LP purchased a new position in Quantum during the second quarter worth about $27,374,000. BlackRock Inc. purchased a new stake in shares of Quantum in the 2nd quarter valued at approximately $3,003,000. Sona Asset Management US LLC acquired a new position in shares of Quantum in the 1st quarter worth approximately $333,000. R Squared Ltd purchased a new position in shares of Quantum during the 1st quarter worth approximately $58,000. Finally, XTX Topco Ltd purchased a new position in shares of Quantum during the 4th quarter worth approximately $77,000. Institutional investors and hedge funds own 63.66% of the company’s stock.

Quantum Company 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.