Quantum Corporation (NASDAQ:QMCO) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Quantum Corporation (NASDAQ:QMCO) have been assigned a consensus recommendation of “Moderate Buy” from the five analysts that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating and four have issued a buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $13.6667.

Several research firms recently commented on QMCO. Lake Street Capital started coverage on Quantum in a research note on Wednesday, March 25th. They issued a “buy” rating and a $8.00 target price for the company. Wall Street Zen raised Quantum from a “sell” rating to a “hold” rating in a research note on Saturday, February 21st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Quantum in a report on Friday, March 27th.

Quantum Price Performance

Shares of QMCO opened at $7.98 on Thursday. Quantum has a 1-year low of $4.19 and a 1-year high of $15.33. The stock has a market cap of $116.83 million, a price-to-earnings ratio of -3.38 and a beta of 2.90. The firm has a 50 day simple moving average of $6.57 and a 200-day simple moving average of $6.95.

Quantum (NASDAQ:QMCO) last posted its quarterly earnings data on Tuesday, February 17th. The company reported ($0.36) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.09. The company had revenue of $74.59 million for the quarter, compared to analysts’ expectations of $66.36 million. On average, equities analysts expect that Quantum will post -2.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Quantum

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC raised its stake in Quantum by 9.1% during the second quarter. Geode Capital Management LLC now owns 69,384 shares of the company’s stock worth $692,000 after purchasing an additional 5,806 shares during the period. Marshall Wace LLP acquired a new stake in shares of Quantum during the 2nd quarter worth $1,775,000. Raymond James Financial Inc. acquired a new stake in shares of Quantum during the 2nd quarter worth $46,000. Hollencrest Capital Management raised its position in shares of Quantum by 228.0% in the 3rd quarter. Hollencrest Capital Management now owns 6,560 shares of the company’s stock worth $65,000 after buying an additional 4,560 shares during the period. Finally, AlphaQuest LLC boosted its holdings in Quantum by 655.0% in the third quarter. AlphaQuest LLC now owns 35,536 shares of the company’s stock valued at $353,000 after acquiring an additional 30,829 shares during the last quarter. Institutional investors and hedge funds 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.