Quantum (NASDAQ:QMCO) Shares Down 2.9% – What’s Next?
by Sarita Garza · The Markets DailyShares of Quantum Corporation (NASDAQ:QMCO – Get Free Report) dropped 2.9% on Tuesday . The company traded as low as $5.06 and last traded at $5.11. Approximately 142,910 shares changed hands during trading, a decline of 61% from the average daily volume of 363,270 shares. The stock had previously closed at $5.26.
Analyst Upgrades and Downgrades
Several research firms have recently issued reports on QMCO. Lake Street Capital set a $7.00 price objective on shares of Quantum in a report on Wednesday, February 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Quantum in a research note on Monday, December 29th. Finally, Wall Street Zen raised shares of Quantum from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $13.33.
Read Our Latest Report on Quantum
Quantum Trading Down 2.9%
The stock has a 50-day simple moving average of $5.94 and a 200 day simple moving average of $7.79. The company has a market cap of $74.81 million, a price-to-earnings ratio of -2.17 and a beta of 2.66.
Quantum (NASDAQ:QMCO – Get Free Report) last announced its quarterly earnings data on Tuesday, February 17th. The company reported ($0.36) earnings per share 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 analyst estimates of $66.36 million. Quantum has set its Q4 2026 guidance at -0.430–0.230 EPS. As a group, research analysts forecast that Quantum Corporation will post -5.5 EPS for the current fiscal year.
Hedge Funds Weigh In On Quantum
Hedge funds and other institutional investors have recently bought and sold shares of the business. XTX Topco Ltd purchased a new position in Quantum during the 4th quarter worth approximately $77,000. Millennium Management LLC purchased a new stake in shares of Quantum in the 4th quarter valued at $73,000. Engineers Gate Manager LP acquired a new stake in shares of Quantum in the fourth quarter worth $106,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of Quantum in the fourth quarter worth $103,000. Finally, Barclays PLC raised its holdings in shares of Quantum by 3,020.2% during the fourth quarter. Barclays PLC now owns 14,197 shares of the company’s stock worth $92,000 after purchasing an additional 13,742 shares during the last quarter. Institutional investors and hedge funds 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.