Quantum (NASDAQ:QMCO) Sets New 12-Month High – Here’s Why

Quantum Corporation (NASDAQ:QMCO)’s stock price hit a new 52-week high during mid-day trading on Wednesday. The stock traded as high as $34.68 and last traded at $32.86, with a volume of 1966167 shares trading hands. The stock had previously closed at $31.40.

Analysts Set New Price Targets

QMCO has been the topic of a number of analyst reports. Wall Street Zen raised Quantum from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Litchfield Hills Research assumed coverage on Quantum in a research note on Monday, August 10th. They set a “buy” rating for the company. Lake Street Capital set a $29.00 price objective on Quantum and gave the company a “buy” rating in a report on Monday, September 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Quantum in a research report on Monday, September 21st. Finally, Northland Securities upgraded 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. Four equities 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, the company presently has an average rating of “Moderate Buy” and a consensus price target of $26.50.

Quantum Stock Performance

The firm’s fifty day moving average price is $21.60 and its 200 day moving average price is $13.59. The firm has a market cap of $1.26 billion, a P/E ratio of -2.41 and a beta of 3.08.

Quantum (NASDAQ:QMCO) last released its quarterly earnings data on Monday, August 10th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.35. The business had revenue of $80.80 million for the quarter, compared to the consensus estimate of $75.05 million. Quantum has set its Q2 2027 guidance at 0.020-0.220 EPS. As a group, analysts expect that Quantum Corporation will post 0.31 earnings per share for the current fiscal year.

Institutional Trading of Quantum

Several hedge funds and other institutional investors have recently bought and sold shares of QMCO. Man Group plc bought a new position in shares of Quantum in the 2nd quarter worth $755,000. Alyeska Investment Group L.P. purchased a new stake in shares of Quantum during the 2nd quarter worth $29,193,000. BlackRock Inc. bought a new stake in Quantum during the second quarter valued at about $3,003,000. Susquehanna Fundamental Investments LLC bought a new stake in Quantum during the second quarter valued at about $381,000. Finally, Manatuck Hill Partners LLC purchased a new position in Quantum in the second quarter valued at about $3,850,000. Institutional investors own 63.66% of the company’s stock.

Quantum Company Profile

Quantum Corporation (NASDAQ: QMCO) is a data storage and management company that provides technology for organizations handling large volumes of digital content. Its solutions are designed to help customers store, protect, manage and access unstructured data, including video, images, scientific information and other content-intensive files.

The company’s product portfolio has included Scalar tape libraries and tape storage systems, DXi deduplication appliances, and software for data backup, archiving and disaster recovery.