Quantum (NASDAQ:QMCO) Shares Gap Down – Should You Sell?

Quantum Corporation (NASDAQ:QMCO) gapped down before the market opened on Monday . The stock had previously closed at $22.25, but opened at $21.31. Quantum shares last traded at $20.66, with a volume of 186,439 shares.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on QMCO. Northland Securities raised shares of Quantum from a “market perform” rating to an “outperform” rating and set a $24.00 price target for the company in a research note on Tuesday, August 11th. Needham & Company LLC assumed coverage on shares of Quantum in a research note on Wednesday, June 3rd. They issued a “buy” rating on the stock. Wall Street Zen upgraded shares of Quantum from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Quantum in a report on Wednesday, June 24th. Finally, Lake Street Capital reiterated a “buy” rating and set a $24.00 price objective (up from $20.00) on shares of Quantum in a research report on Tuesday, August 11th. Four research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Quantum currently has an average rating of “Moderate Buy” and a consensus price target of $24.00.

Quantum Stock Up 3.8%

The firm’s 50-day moving average price is $13.95 and its two-hundred day moving average price is $9.74. The firm has a market capitalization of $882.39 million, a PE ratio of -1.69 and a beta of 2.97.

Quantum (NASDAQ:QMCO) last posted its quarterly earnings data on Monday, August 10th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.35. The firm had revenue of $80.80 million during the quarter, compared to analyst estimates of $75.05 million. Quantum has set its Q2 2027 guidance at 0.020-0.220 EPS. Equities research analysts forecast that Quantum Corporation will post 0.31 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of QMCO. NBC Securities Inc. purchased a new stake in Quantum in the 4th quarter worth about $26,000. Bank of America Corp DE boosted its holdings in shares of Quantum by 337.5% during the third quarter. Bank of America Corp DE now owns 2,896 shares of the company’s stock worth $29,000 after purchasing an additional 2,234 shares during the period. BNP Paribas Financial Markets grew its position in 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. Raymond James Financial Inc. purchased a new position in Quantum during the second quarter valued at approximately $46,000. Finally, R Squared Ltd acquired a new position in Quantum in the 1st quarter valued at approximately $58,000. 63.66% of the stock is owned by institutional investors and hedge funds.

Quantum Company Profile

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.