Quantum (NASDAQ:QMCO) Announces Quarterly Earnings Results, Beats Estimates By $0.09 EPS

Quantum (NASDAQ:QMCO) announced its quarterly earnings data on Tuesday. The company reported ($0.36) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.09, FiscalAI reports. The business had revenue of $74.59 million during the quarter, compared to the consensus estimate of $66.36 million.

Quantum Stock Down 2.9%

QMCO traded down $0.17 during trading on Tuesday, hitting $5.61. The company had a trading volume of 1,300,892 shares, compared to its average volume of 574,777. The company has a market capitalization of $76.97 million, a PE ratio of -1.85 and a beta of 2.66. Quantum has a one year low of $4.89 and a one year high of $24.40. The firm’s 50-day moving average price is $7.12 and its 200 day moving average price is $8.20.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Quantum

Institutional investors have recently bought and sold shares of the company. Marshall Wace LLP acquired a new stake in shares of Quantum in the second quarter valued at approximately $1,775,000. UBS Group AG grew its position in Quantum by 170.0% in the third quarter. UBS Group AG now owns 162,605 shares of the company’s stock valued at $1,613,000 after purchasing an additional 102,384 shares in the last quarter. Geode Capital Management LLC raised its holdings in Quantum by 97.5% during the fourth quarter. Geode Capital Management LLC now owns 156,871 shares of the company’s stock worth $1,012,000 after acquiring an additional 77,444 shares in the last quarter. State Street Corp boosted its position in Quantum by 231.7% during the fourth quarter. State Street Corp now owns 90,714 shares of the company’s stock valued at $585,000 after purchasing an additional 63,367 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in Quantum by 18.3% in the third 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 in the last quarter. Institutional investors own 63.66% of the company’s stock.

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.