Quantum (NASDAQ:QMCO) Shares Gap Down – Time to Sell?

Quantum Corporation (NASDAQ:QMCO) gapped down prior to trading on Friday. The stock had previously closed at $31.89, but opened at $30.10. Quantum shares last traded at $32.15, with a volume of 774,006 shares trading hands.

Analysts Set New Price Targets

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

Quantum Stock Performance

The stock has a 50-day simple moving average of $21.60 and a 200 day simple moving average of $13.59. The stock has a market capitalization of $1.24 billion, a P/E ratio of -2.37 and a beta of 3.08.

Quantum (NASDAQ:QMCO) last posted its quarterly earnings results on Monday, August 10th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.35. The business 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. Equities analysts predict that Quantum Corporation will post 0.31 earnings per share for the current year.

Institutional Investors Weigh In On Quantum

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Man Group plc bought a new stake in Quantum in the 2nd quarter valued at $755,000. Alyeska Investment Group L.P. acquired a new stake in shares of Quantum in the 2nd quarter valued at about $29,193,000. BlackRock Inc. acquired a new stake in shares of Quantum in the 2nd quarter valued at about $3,003,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Quantum in the second quarter valued at about $381,000. Finally, Manatuck Hill Partners LLC acquired a new position in shares of Quantum during the second quarter worth about $3,850,000. 63.66% of the stock is currently owned by institutional investors and hedge funds.

Quantum Company Profile

Quantum Corporation (NASDAQ: QMCO) is a data storage and management company that provides technology for organizations handling large volumes of digital content. Its solutions are designed to help customers store, protect, manage and access unstructured data, including video, images, scientific information and other content-intensive files.

The company’s product portfolio has included Scalar tape libraries and tape storage systems, DXi deduplication appliances, and software for data backup, archiving and disaster recovery.