Quantum Corporation (NASDAQ:QMCO) Receives Average Recommendation of “Moderate Buy” from Analysts

Quantum Corporation (NASDAQ:QMCO) has been assigned an average rating of “Moderate Buy” from the five analysts that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and four have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $17.6667.

Several analysts have commented on the stock. Wall Street Zen upgraded shares of Quantum from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. Lake Street Capital restated a “buy” rating and set a $20.00 target price (up from $8.00) on shares of Quantum in a report on Wednesday, June 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Quantum in a report on Friday, March 27th. Finally, Needham & Company LLC assumed coverage on shares of Quantum in a report on Wednesday, June 3rd. They set a “buy” rating on the stock.

Institutional Trading of Quantum

Hedge funds have recently bought and sold shares of the stock. NBC Securities Inc. acquired a new stake in Quantum during the 4th quarter worth approximately $26,000. Bank of America Corp DE raised its holdings in 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 buying an additional 2,234 shares during the period. BNP Paribas Financial Markets raised 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 worth $34,000 after buying an additional 2,641 shares during the period. Raymond James Financial Inc. acquired a new stake in Quantum during the 2nd quarter worth approximately $46,000. Finally, R Squared Ltd acquired a new stake in Quantum during the 1st quarter worth approximately $58,000. 63.66% of the stock is currently owned by institutional investors and hedge funds.

Quantum Price Performance

Shares of QMCO stock opened at $13.74 on Monday. The firm has a market capitalization of $201.15 million, a price-to-earnings ratio of -5.82 and a beta of 2.96. The firm has a fifty day moving average of $8.84 and a 200-day moving average of $7.37. Quantum has a 12-month low of $4.19 and a 12-month high of $18.48.

About Quantum

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.