Quantum (NASDAQ:QMCO) Rating Lowered to “Market Perform” at Northland Securities

Quantum (NASDAQ:QMCO) was downgraded by investment analysts at Northland Securities from an “outperform” rating to a “market perform” rating in a report released on Friday. They presently have a $13.00 price target on the stock. Northland Securities’ target price suggests a potential upside of 0.54% from the company’s previous close.

QMCO has been the subject of several other research reports. Lake Street Capital restated a “buy” rating and issued a $20.00 target price (up from $8.00) on shares of Quantum in a research note on Wednesday, June 3rd. Needham & Company LLC began coverage on Quantum in a research report on Wednesday, June 3rd. They set a “buy” rating on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Quantum in a report on Wednesday. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Quantum currently has a consensus rating of “Hold” and a consensus target price of $17.67.

Quantum Price Performance

Quantum stock opened at $12.93 on Friday. The firm has a market capitalization of $189.30 million, a P/E ratio of -5.48 and a beta of 2.97. Quantum has a one year low of $4.19 and a one year high of $18.48. The business has a fifty day moving average price of $10.31 and a 200-day moving average price of $7.77.

Institutional Investors Weigh In On Quantum

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC boosted its stake in Quantum by 9.1% during the second quarter. Geode Capital Management LLC now owns 69,384 shares of the company’s stock valued at $692,000 after buying an additional 5,806 shares during the period. Marshall Wace LLP bought a new position in Quantum in the 2nd quarter worth about $1,775,000. Raymond James Financial Inc. bought a new position in Quantum in the 2nd quarter worth about $46,000. Vanguard Group Inc. raised its holdings in shares of Quantum by 18.3% in the 3rd quarter. Vanguard Group Inc. now owns 303,597 shares of the company’s stock valued at $3,012,000 after acquiring an additional 46,919 shares in the last quarter. Finally, Riverview Capital Advisers LLC purchased a new stake in shares of Quantum in the 3rd quarter valued at about $99,000. Hedge funds and other institutional investors 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.