Quantum (NASDAQ:QMCO) Shares Gap Down – What’s Next?

Quantum Corporation (NASDAQ:QMCO) shares gapped down prior to trading on Tuesday. The stock had previously closed at $27.51, but opened at $26.02. Quantum shares last traded at $26.6010, with a volume of 721,372 shares.

Analysts Set New Price Targets

QMCO has been the topic of a number of research analyst reports. Litchfield Hills Research began coverage on Quantum in a report on Monday, August 10th. They set a “buy” rating on the stock. Lake Street Capital set a $29.00 target price on 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 research report on Monday, September 21st. Wall Street Zen raised 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 objective for the company in a report on Tuesday, August 11th. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $26.50.

Quantum Trading Down 10.0%

The company has a market capitalization of $940.32 million, a P/E ratio of -1.80 and a beta of 3.08. The company’s 50 day moving average is $25.02 and its 200-day moving average is $15.16.

Quantum (NASDAQ:QMCO) last posted its quarterly earnings data on Monday, August 10th. The company reported $0.18 EPS for the quarter, topping the consensus estimate 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. Analysts predict that Quantum Corporation will post 0.31 EPS for the current fiscal year.

Institutional Trading of Quantum

Hedge funds have recently made changes to their positions in the stock. State Street Corp raised its stake in Quantum by 4.3% during the second quarter. State Street Corp now owns 75,914 shares of the company’s stock valued at $835,000 after buying an additional 3,100 shares during the last quarter. R Squared Ltd bought a new stake in Quantum in the first quarter worth $58,000. Squarepoint Ops LLC purchased a new stake in shares of Quantum in the second quarter worth $372,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Quantum in the second quarter worth $381,000. Finally, Man Group plc purchased a new stake in shares of Quantum in the second quarter worth $755,000. 63.66% of the stock is owned by institutional investors.

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.