Quantum (QTM) Stock Price Up 7%
Shares of Quantum Corp (NYSE:QTM) rose 7% during trading on Wednesday . The company traded as high as $1.70 and last traded at $1.68. Approximately 773,912 shares changed hands during mid-day trading, an increase of 111% from the average daily volume of 367,452 shares. The stock had previously closed at $1.57.
In related news, major shareholder Brc Partners Opportunity Fund, purchased 32,428 shares of the stock in a transaction that occurred on Thursday, January 3rd. The stock was acquired at an average cost of $1.87 per share, with a total value of $60,640.36. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 8.55% of the company’s stock.
Several institutional investors have recently made changes to their positions in QTM. Wagner Bowman Management Corp purchased a new stake in shares of Quantum during the 3rd quarter valued at $103,000. Jane Street Group LLC bought a new position in shares of Quantum during the 2nd quarter worth $243,000. Alpine Global Management LLC bought a new position in shares of Quantum during the 2nd quarter worth $253,000. Paloma Partners Management Co bought a new position in shares of Quantum during the 2nd quarter worth $305,000. Finally, GSA Capital Partners LLP grew its stake in shares of Quantum by 90.6% during the 2nd quarter. GSA Capital Partners LLP now owns 193,505 shares of the technology company’s stock worth $426,000 after acquiring an additional 92,000 shares during the period. 53.51% of the stock is owned by hedge funds and other institutional investors.
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Quantum Corporation provides scale-out storage, archive, and data protection solutions for small businesses and multi-national enterprises in the Americas, Europe, and the Asia Pacific. The company offers StorNext 5 software and hardware that offer file sharing and archiving in purpose-built configurations of metadata controllers, expansion appliances, and disk and archive enabled libraries; Xcellis product, which optimizes workflow and shared access by combining functions into a compact, space, and energy-saving solution; and Lattus Object Storage solutions that enable high volumes of data to be available to extract valuable information.
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