Quantum (NASDAQ:QMCO) Coverage Initiated at Lake Street Capital

Research analysts at Lake Street Capital initiated coverage on shares of Quantum (NASDAQ:QMCO) in a note issued to investors on Wednesday. The firm set a “buy” rating and a $8.00 price target on the stock. Lake Street Capital’s price target would suggest a potential upside of 37.10% from the company’s previous close.

Several other equities research analysts also recently issued reports on QMCO. Wall Street Zen upgraded Quantum from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Quantum in a research note on Monday, December 29th. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $13.67.

Quantum Price Performance

Shares of NASDAQ:QMCO traded up $0.73 during mid-day trading on Wednesday, reaching $5.84. 281,852 shares of the company were exchanged, compared to its average volume of 509,016. Quantum has a 1 year low of $4.50 and a 1 year high of $17.07. The firm’s 50-day simple moving average is $5.94 and its 200 day simple moving average is $7.79. The firm has a market cap of $85.42 million, a price-to-earnings ratio of -2.45 and a beta of 2.66.

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

Hedge Funds Weigh In On Quantum

Several hedge funds have recently made changes to their positions in the company. NBC Securities Inc. purchased a new stake in shares of Quantum in the fourth quarter valued at about $26,000. Bank of America Corp DE grew its holdings in shares of Quantum by 337.5% during the third 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 last quarter. BNP Paribas Financial Markets increased its position in Quantum by 322.1% in 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 stake in Quantum during the 2nd quarter valued at approximately $46,000. Finally, Hollencrest Capital Management raised its stake in Quantum by 228.0% during 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. Hedge funds and other institutional investors own 63.66% of the company’s stock.

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.