Quantum Corp. (QTM) Releases Q2 Earnings Guidance
Quantum Corp. (NYSE:QTM) issued an update on its second quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of breakeven for the period, compared to the Thomson Reuters consensus estimate of $0.00. The company issued revenue guidance of $132-134 million, compared to the consensus revenue estimate of $119.94 million.
Shares of Quantum Corp. (NYSE:QTM) opened at 0.7619 on Friday. Quantum Corp. has a 52-week low of $0.35 and a 52-week high of $1.05. The company has a 50 day moving average of $0.70 and a 200 day moving average of $0.54. The stock’s market capitalization is $205.10 million.
Several equities research analysts recently issued reports on QTM shares. Roth Capital began coverage on Quantum Corp. in a research report on Thursday, August 25th. They set a buy rating and a $1.50 price target on the stock. Zacks Investment Research lowered Quantum Corp. from a strong-buy rating to a hold rating in a research report on Wednesday, September 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $1.42.
Several hedge funds and other institutional investors have recently modified their holdings of QTM. S Squared Technology LLC acquired a new position in shares of Quantum Corp. during the second quarter worth approximately $537,000. Paloma Partners Management Co raised its position in shares of Quantum Corp. by 551.5% in the second quarter. Paloma Partners Management Co now owns 772,129 shares of the company’s stock worth $324,000 after buying an additional 653,608 shares during the period. Laurion Capital Management LP acquired a new position in shares of Quantum Corp. during the second quarter worth approximately $274,000. Spark Investment Management LLC raised its position in shares of Quantum Corp. by 21.2% in the second quarter. Spark Investment Management LLC now owns 634,900 shares of the company’s stock worth $266,000 after buying an additional 111,100 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Quantum Corp. by 0.8% in the second quarter. Vanguard Group Inc. now owns 8,482,427 shares of the company’s stock worth $3,562,000 after buying an additional 66,958 shares during the period. 50.49% of the stock is currently owned by institutional investors.
About Quantum Corp.
Quantum Corporation focuses on scale-out storage, archive and data protection, providing solutions for capturing, sharing, managing and preserving digital assets over the entire data lifecycle. The Company’s end-to-end tiered storage solutions enable users to maximize the value of their data by making it accessible whenever and wherever needed, retaining it indefinitely and reducing total cost and complexity.
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