Shares of Quantum Corp (NYSE:QTM) were down 7.7% during trading on Tuesday . The stock traded as low as $5.12 and last traded at $5.19. Approximately 697,400 shares were traded during mid-day trading, an increase of 130% from the average daily volume of 303,580 shares. The stock had previously closed at $5.62.

Several analysts have commented on QTM shares. BidaskClub cut shares of Quantum from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Lake Street Capital decreased their target price on shares of Quantum from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Thursday, August 10th. Finally, Zacks Investment Research upgraded shares of Quantum 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 (NYSE:QTM) last announced its earnings results on Thursday, November 9th. The technology company reported ($0.14) earnings per share (EPS) 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 analysts’ expectations of $122.20 million. Quantum had a negative net margin of 1.77% and a negative return on equity of 7.26%. The firm’s quarterly revenue was down 20.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.02 earnings per share. sell-side analysts forecast that Quantum Corp will post 0.08 earnings per share for the current year.

In related news, insider Jon W. Gacek sold 5,793 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $6.19, for a total transaction of $35,858.67. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 8.55% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Quantum by 4.3% during the first quarter. Vanguard Group Inc. now owns 9,332,945 shares of the technology company’s stock valued at $8,120,000 after purchasing an additional 383,871 shares in the last quarter. Neuberger Berman Group LLC boosted its stake in shares of Quantum 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 purchasing an additional 37,168 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Quantum 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 purchasing an additional 340,079 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Quantum by 8.9% during the first quarter. Schwab Charles Investment Management Inc. now owns 617,912 shares of the technology company’s stock valued at $538,000 after purchasing an additional 50,616 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. boosted its stake in shares of Quantum by 58.0% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 518,721 shares of the technology company’s stock valued at $3,175,000 after purchasing an additional 190,400 shares in the last quarter. Institutional investors and hedge funds own 66.13% of the company’s stock.

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Quantum Company Profile

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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