Quantum Corporation (NASDAQ:QMCO) Given Consensus Recommendation of “Hold” by Analysts

Quantum Corporation (NASDAQ:QMCO) has been assigned a consensus recommendation of “Hold” from the five brokerages that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $17.6667.

QMCO has been the subject of a number of research reports. Litchfield Hills Research began coverage on shares of Quantum in a research note on Monday. They set a “buy” rating for the company. Needham & Company LLC assumed coverage on Quantum in a research note on Wednesday, June 3rd. They issued a “buy” rating on the stock. Northland Securities cut Quantum from an “outperform” rating to a “market perform” rating and set a $13.00 price objective for the company. in a research report on Friday, June 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Quantum in a research report on Wednesday, June 24th. Finally, Lake Street Capital reissued a “buy” rating on shares of Quantum in a research report on Friday, June 26th.

Hedge Funds Weigh In On Quantum

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Quantum by 18.3% during the third quarter. Vanguard Group Inc. now owns 303,597 shares of the company’s stock valued at $3,012,000 after buying an additional 46,919 shares during the period. BlackRock Inc. bought a new position in Quantum in the second quarter worth approximately $3,003,000. Marshall Wace LLP purchased a new position in shares of Quantum during the 2nd quarter worth $1,775,000. UBS Group AG boosted its stake in shares of Quantum by 170.0% during the 3rd quarter. UBS Group AG now owns 162,605 shares of the company’s stock worth $1,613,000 after acquiring an additional 102,384 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Quantum by 97.5% during the 4th quarter. Geode Capital Management LLC now owns 156,871 shares of the company’s stock valued at $1,012,000 after acquiring an additional 77,444 shares during the period. Institutional investors own 63.66% of the company’s stock.

Quantum Price Performance

Quantum stock traded down $0.35 during midday trading on Monday, reaching $11.69. 215,444 shares of the company traded hands, compared to its average volume of 769,610. Quantum has a 12 month low of $4.19 and a 12 month high of $18.48. The business has a 50 day moving average of $11.95 and a two-hundred day moving average of $8.47. The firm has a market capitalization of $460.59 million, a price-to-earnings ratio of -1.45 and a beta of 2.97.

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.