Quantum (NASDAQ:QMCO) Stock Falls 5.4% – Here’s Why

Quantum Corporation (NASDAQ:QMCO)’s share price traded down 5.4% during mid-day trading on Wednesday. The company traded as low as $18.32 and last traded at $17.9740. Approximately 341,895 shares were traded during trading, a decline of 69% from the average session volume of 1,106,335 shares. The stock had previously closed at $18.99.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on QMCO. Lake Street Capital set a $29.00 price objective on shares of Quantum and gave the company a “buy” rating in a research note on Monday, September 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Quantum in a report on Monday, September 21st. Litchfield Hills Research began coverage on Quantum in a research note on Monday, August 10th. They issued a “buy” rating for the company. Northland Securities raised Quantum from a “market perform” rating to an “outperform” rating and set a $24.00 price objective for the company in a report on Tuesday, August 11th. Finally, Wall Street Zen raised Quantum from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $26.50.

Quantum Stock Performance

The firm’s 50-day moving average is $25.47 and its 200 day moving average is $15.58. The firm has a market capitalization of $700.39 million, a PE ratio of -1.35 and a beta of 3.08.

Quantum (NASDAQ:QMCO) last posted its earnings results on Monday, August 10th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.35. The business had revenue of $80.80 million for the quarter, compared to analysts’ expectations of $75.05 million. Quantum has set its Q2 2027 guidance at 0.020-0.220 EPS. As a group, equities analysts anticipate that Quantum Corporation will post 0.31 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. State Street Corp boosted its stake in Quantum by 4.3% in the 2nd quarter. State Street Corp now owns 75,914 shares of the company’s stock worth $835,000 after buying an additional 3,100 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in Quantum during the 2nd quarter worth $372,000. Susquehanna Fundamental Investments LLC purchased a new position in Quantum in the second quarter valued at about $381,000. Alyeska Investment Group L.P. purchased a new position in Quantum in the second quarter valued at about $29,193,000. Finally, Bank of America Corp DE lifted its stake in shares of Quantum by 730.5% during the second quarter. Bank of America Corp DE now owns 170,130 shares of the company’s stock worth $1,871,000 after purchasing an additional 149,645 shares in the last quarter. Hedge funds and other institutional investors own 63.66% of the company’s stock.

Quantum Company Profile

Quantum Corporation (NASDAQ:QMCO) provides data storage, management and protection solutions for organizations that generate and retain large volumes of unstructured data. Its customers include businesses, media and entertainment companies, government agencies, research institutions and other organizations that require long-term data preservation, rapid access and secure information management.

The company’s portfolio includes tape libraries and drives based on Linear Tape-Open (LTO) technology, disk-based backup and deduplication systems, and software for managing files, objects and data workflows.