Quantum (NASDAQ:QMCO) Stock Price Up 8.4% – Still a Buy?

Shares of Quantum Corporation (NASDAQ:QMCO) were up 8.4% during mid-day trading on Tuesday. The stock traded as high as $18.31 and last traded at $18.1380. Approximately 76,922 shares traded hands during trading, a decline of 93% from the average daily volume of 1,117,678 shares. The stock had previously closed at $16.73.

Analyst Ratings Changes

Several brokerages have weighed in on QMCO. Lake Street Capital set a $29.00 price objective on shares of Quantum and gave the stock a “buy” rating in a research note on Monday, September 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Quantum in a report on Monday, September 21st. Litchfield Hills Research began coverage on shares of Quantum in a report on Monday, August 10th. They set a “buy” rating on the stock. Cantor Fitzgerald began coverage on shares of Quantum in a research report on Friday, October 23rd. They issued an “overweight” rating and a $29.00 price target for the company. Finally, Wall Street Zen raised Quantum from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Five investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.33.

Quantum Stock Performance

The company has a market capitalization of $713.95 million, a P/E ratio of -1.37 and a beta of 3.08. The firm’s fifty day moving average is $24.62 and its 200-day moving average is $13.13.

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

Institutional Investors Weigh In On Quantum

Several large investors have recently added to or reduced their stakes in the business. R Squared Ltd acquired a new position in Quantum during the 1st quarter valued at about $58,000. Squarepoint Ops LLC purchased a new stake in Quantum in the second quarter worth $372,000. Susquehanna Fundamental Investments LLC bought a new stake in Quantum in the 2nd quarter valued at about $381,000. Man Group plc purchased a new stake in shares of Quantum during the 2nd quarter valued at approximately $755,000. Finally, Sona Asset Management US LLC bought a new position in shares of Quantum in the first quarter worth $333,000. Institutional investors and hedge funds own 63.66% of the company’s stock.

About Quantum

Quantum Corporation (NASDAQ: QMCO) provides data storage, management and protection solutions for organizations that generate and retain large volumes of unstructured data. Its offerings are designed to help customers store, protect, archive and access information across on-premises, cloud and hybrid environments.

The company’s product portfolio has included Scalar tape libraries and LTO tape storage products, DXi deduplication and backup appliances, and software-defined storage solutions such as ActiveScale object storage.