Quantum (NASDAQ:QMCO) Upgraded to “Strong-Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Quantum (NASDAQ:QMCO) from a buy rating to a strong-buy rating in a research note issued to investors on Saturday,Wall Street Zen reports.

Several other research firms have also commented on QMCO. 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 report on Tuesday, August 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Quantum in a research note on Monday, September 21st. Litchfield Hills Research began coverage on Quantum in a report on Monday, August 10th. They issued a “buy” rating on the stock. Cantor Fitzgerald raised their target price on Quantum from $29.00 to $32.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 10th. Finally, Lake Street Capital set a $29.00 target price on Quantum and gave the company a “buy” rating in a research report on Monday, September 14th. Five investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.33.

Quantum Stock Performance

Shares of NASDAQ:QMCO traded down $1.29 during midday trading on Friday, hitting $15.34. The company’s stock had a trading volume of 897,685 shares, compared to its average volume of 1,615,552. The company has a market cap of $606.85 million, a P/E ratio of -1.41 and a beta of 3.23. Quantum has a 12-month low of $4.19 and a 12-month high of $35.65. The business’s 50 day simple moving average is $23.34 and its 200 day simple moving average is $13.53.

Quantum (NASDAQ:QMCO) last announced its quarterly earnings data on Monday, November 9th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.13. Quantum had a negative net margin of 73.54% and a negative return on equity of 3.99%. The company had revenue of $89.63 million during the quarter, compared to analysts’ expectations of $82.30 million. Quantum has set its Q3 2027 guidance at 0.100-0.300 EPS. On average, sell-side analysts predict that Quantum will post 0.31 earnings per share for the current fiscal year.

Institutional Trading of Quantum

Several hedge funds have recently made changes to their positions in the business. Pathstone Holdings LLC acquired a new stake in Quantum during the 3rd quarter worth approximately $273,000. Entropy Technologies LP acquired a new position in shares of Quantum in the third quarter worth $714,000. Squarepoint Ops LLC purchased a new stake in shares of Quantum during the second quarter worth $372,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Quantum during the second quarter worth $381,000. Finally, Jump Financial LLC purchased a new position in Quantum in the third quarter valued at $1,122,000. Institutional investors and hedge funds own 63.66% of the company’s stock.

Quantum Company Profile

Quantum Corporation provides data storage and management solutions for organizations that create and retain large volumes of unstructured data, including video, images and other digital content. Its customers include businesses and institutions in areas such as media and entertainment, government, life sciences and industrial markets. The company’s offerings include StorNext shared-storage and data-management software, Scalar tape libraries for backup and archiving, and ActiveScale object storage.