Quantum (NASDAQ:QMCO) Announces Quarterly Earnings Results

by · The Markets Daily

Quantum (NASDAQ:QMCO – Get Free Report) issued its quarterly earnings results on Tuesday. The company reported ($0.36) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.09, FiscalAI reports. The business had revenue of $74.59 million for the quarter, compared to the consensus estimate of $66.36 million.

Quantum Trading Down 2.9%

NASDAQ QMCO traded down $0.17 on Tuesday, hitting $5.61. The company’s stock had a trading volume of 837,756 shares, compared to its average volume of 558,470. The firm has a market cap of $76.97 million, a P/E ratio of -1.85 and a beta of 2.66. The company’s 50-day simple moving average is $7.12 and its 200 day simple moving average is $8.20. Quantum has a 52-week low of $4.89 and a 52-week high of $24.40.

Institutional Investors Weigh In On Quantum

Large investors have recently modified their holdings of the stock. Geode Capital Management LLC raised its stake in Quantum by 9.1% in the second quarter. Geode Capital Management LLC now owns 69,384 shares of the company’s stock worth $692,000 after buying an additional 5,806 shares in the last quarter. Marshall Wace LLP purchased a new position in shares of Quantum during the 2nd quarter worth approximately $1,775,000. Raymond James Financial Inc. bought a new position in shares of Quantum in the 2nd quarter worth approximately $46,000. Vanguard Group Inc. lifted its stake 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 purchasing an additional 46,919 shares during the period. Finally, BNP Paribas Financial Markets boosted its position in shares of Quantum by 322.1% during the third quarter. BNP Paribas Financial Markets now owns 3,461 shares of the company’s stock valued at $34,000 after purchasing an additional 2,641 shares in the last quarter. Institutional investors own 63.66% of the company’s stock.

Analyst Ratings Changes

QMCO has been the topic of a number of analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Quantum in a research report on Monday, December 29th. Northland Securities raised Quantum from a “market perform” rating to an “outperform” rating and set a $13.00 target price for the company in a research note on Friday, November 14th. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $16.50.

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Quantum Company Profile

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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.

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