Quantum Corporation (QTM) Trading -0.2% Higher

Quantum Corporation (NYSE:QTM) traded up 0.2% on Wednesday . The stock traded as high as $4.67 and last traded at $4.27. 752,700 shares changed hands during mid-day trading, an increase of 164% from the average session volume of 285,053 shares. The stock had previously closed at $4.28.

Several equities research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Quantum Corporation from a “hold” rating to a “buy” rating and set a $9.50 target price on the stock in a report on Tuesday, July 18th. BidaskClub lowered shares of Quantum Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Finally, Lake Street Capital cut their target price on shares of Quantum Corporation from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Thursday, August 10th.

The company has a debt-to-equity ratio of -0.57, a quick ratio of 0.56 and a current ratio of 0.78.

Quantum Corporation (NYSE:QTM) last posted its earnings results on Thursday, November 9th. The technology company reported ($0.14) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.13). Quantum Corporation had a negative return on equity of 7.26% and a negative net margin of 1.77%. The firm had revenue of $107.10 million during the quarter, compared to analyst estimates of $122.20 million. During the same quarter last year, the business posted $0.02 earnings per share. The company’s revenue for the quarter was down 20.5% on a year-over-year basis. analysts expect that Quantum Corporation will post 0.13 EPS for the current year.

In related news, insider Jon W. Gacek sold 5,793 shares of the firm’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $6.19, for a total transaction of $35,858.67. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 8.55% of the company’s stock.

Several large investors have recently modified their holdings of QTM. Renaissance Technologies LLC raised its holdings in shares of Quantum Corporation by 26.8% during the first quarter. Renaissance Technologies LLC now owns 8,026,252 shares of the technology company’s stock worth $6,983,000 after acquiring an additional 1,695,300 shares during the period. Vanguard Group Inc. raised its holdings in shares of Quantum Corporation by 4.3% during the first quarter. Vanguard Group Inc. now owns 9,332,945 shares of the technology company’s stock worth $8,120,000 after acquiring an additional 383,871 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Quantum Corporation by 94.4% during the first quarter. Goldman Sachs Group Inc. now owns 700,507 shares of the technology company’s stock worth $609,000 after acquiring an additional 340,079 shares during the period. Tocqueville Asset Management L.P. acquired a new stake in shares of Quantum Corporation during the third quarter worth $1,629,000. Finally, Dimensional Fund Advisors LP acquired a new stake in shares of Quantum Corporation during the third quarter worth $1,229,000. Institutional investors and hedge funds own 65.29% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “Quantum Corporation (QTM) Trading -0.2% Higher” was reported by Markets Daily and is the property of of Markets Daily. If you are accessing this story on another website, it was illegally copied and republished in violation of US & international copyright & trademark laws. The legal version of this story can be accessed at https://www.themarketsdaily.com/2017/11/16/quantum-corporation-qtm-trading-0-2-higher.html.

Quantum Corporation Company Profile

Quantum Corporation focuses on scale-out storage, archive and data protection, providing solutions for capturing, sharing, managing and preserving digital assets over the entire data lifecycle. The Company’s end-to-end tiered storage solutions enable users to maximize the value of their data by making it accessible whenever and wherever needed, retaining it indefinitely and reducing total cost and complexity.

Receive News & Ratings for Quantum Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quantum Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply