Sona Asset Management US LLC Makes New $333,000 Investment in Quantum Corporation $QMCO

Sona Asset Management US LLC bought a new stake in Quantum Corporation (NASDAQ:QMCO) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 70,092 shares of the company’s stock, valued at approximately $333,000. Sona Asset Management US LLC owned approximately 0.48% of Quantum as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. R Squared Ltd acquired a new position in shares of Quantum during the 1st quarter worth $58,000. XTX Topco Ltd bought a new position in Quantum in the fourth quarter valued at about $77,000. Millennium Management LLC acquired a new position in Quantum during the fourth quarter worth about $73,000. Engineers Gate Manager LP bought a new position in shares of Quantum in the fourth quarter worth about $106,000. Finally, Price T Rowe Associates Inc. MD bought a new position in shares of Quantum in the fourth quarter worth about $103,000. Institutional investors own 63.66% of the company’s stock.

Quantum Trading Down 1.2%

Shares of QMCO stock opened at $10.97 on Tuesday. The business’s 50-day moving average price is $11.53 and its 200-day moving average price is $8.24. Quantum Corporation has a 12 month low of $4.19 and a 12 month high of $18.48. The firm has a market capitalization of $432.00 million, a price-to-earnings ratio of -1.36 and a beta of 2.95.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Quantum in a report on Wednesday, June 24th. Needham & Company LLC started coverage on shares of Quantum in a research note on Wednesday, June 3rd. They issued a “buy” rating for the company. Lake Street Capital restated a “buy” rating on shares of Quantum in a research report on Friday, June 26th. Finally, Northland Securities cut shares of Quantum from an “outperform” rating to a “market perform” rating and set a $13.00 target price on the stock. in a research note on Friday, June 26th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $17.67.

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.