Quantum (NASDAQ:QMCO) Trading Up 4.9% – Still a Buy?

Quantum Corporation (NASDAQ:QMCO) shot up 4.9% on Wednesday . The stock traded as high as $7.46 and last traded at $7.25. 967,475 shares changed hands during trading, an increase of 134% from the average session volume of 412,912 shares. The stock had previously closed at $6.91.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on QMCO. Wall Street Zen raised Quantum from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of Quantum in a report on Friday, March 27th. Finally, Lake Street Capital assumed coverage on shares of Quantum in a research note on Wednesday, March 25th. They set a “buy” rating and a $8.00 price target on the stock. Four research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Quantum presently has an average rating of “Moderate Buy” and an average target price of $13.67.

Quantum Price Performance

The firm has a market capitalization of $106.58 million, a PE ratio of -3.08 and a beta of 2.68. The business has a 50-day simple moving average of $5.61 and a 200-day simple moving average of $7.42.

Quantum (NASDAQ:QMCO) last released its earnings results on Tuesday, February 17th. The company reported ($0.36) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.09. The company had revenue of $74.59 million for the quarter, compared to the consensus estimate of $66.36 million. Quantum has set its Q4 2026 guidance at -0.430–0.230 EPS. On average, research analysts expect that Quantum Corporation will post -5.5 earnings per share for the current year.

Hedge Funds Weigh In On Quantum

A number of large investors have recently made changes to their positions in QMCO. NBC Securities Inc. bought a new stake in Quantum in the fourth quarter worth about $26,000. Bank of America Corp DE lifted its stake in shares of Quantum by 337.5% during the 3rd quarter. Bank of America Corp DE now owns 2,896 shares of the company’s stock worth $29,000 after acquiring an additional 2,234 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in Quantum by 322.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,461 shares of the company’s stock valued at $34,000 after acquiring an additional 2,641 shares during the period. Raymond James Financial Inc. purchased a new position in Quantum during the 2nd quarter valued at $46,000. Finally, Hollencrest Capital Management grew its position in Quantum by 228.0% in the 3rd quarter. Hollencrest Capital Management now owns 6,560 shares of the company’s stock valued at $65,000 after acquiring an additional 4,560 shares during the last quarter. 63.66% of the stock is owned by hedge funds and other institutional investors.

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.