Lake Street Capital Issues Positive Forecast for Quantum (NASDAQ:QMCO) Stock Price

Quantum (NASDAQ:QMCO) had its price objective increased by Lake Street Capital from $5.00 to $20.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Lake Street Capital’s target price would indicate a potential downside of 10.91% from the company’s previous close.

Separately, Northland Securities reissued a “market perform” rating and issued a $5.00 target price (up from $0.25) on shares of Quantum in a research report on Thursday, November 14th.

Quantum Stock Down 10.2 %

Shares of QMCO traded down $2.55 during midday trading on Wednesday, reaching $22.45. 1,054,284 shares of the stock were exchanged, compared to its average volume of 1,848,796. The firm has a 50 day simple moving average of $31.39 and a 200-day simple moving average of $14.13. Quantum has a 12-month low of $2.22 and a 12-month high of $90.64.

Insider Activity

In related news, CEO James J. Lerner sold 6,505 shares of Quantum stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $4.43, for a total transaction of $28,817.15. Following the completion of the transaction, the chief executive officer now directly owns 107,491 shares of the company’s stock, valued at $476,185.13. This trade represents a 5.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Kenneth P. Gianella sold 1,487 shares of Quantum stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $35.68, for a total transaction of $53,056.16. Following the completion of the transaction, the chief financial officer now owns 33,681 shares of the company’s stock, valued at $1,201,738.08. This trade represents a 4.23 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,490 shares of company stock worth $316,162. Company insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Flagship Harbor Advisors LLC bought a new stake in Quantum in the fourth quarter valued at about $226,000. Arkadios Wealth Advisors bought a new position in shares of Quantum during the 4th quarter valued at about $466,000. Finally, UNICOM Systems Inc. bought a new position in shares of Quantum during the 4th quarter valued at about $4,057,000. Institutional investors own 63.66% of the company’s stock.

Quantum Company Profile

Quantum Corporation provides products for storing and managing digital video and unstructured data in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers Myriad All-Flash File and Object Storage Software for high performance enterprise unstructured data applications such as AI, machine learning, and data analytics; Unified Surveillance Platform Software that unified compute and storage for video surveillance recording, storage, and analytics; StorNext Hybrid Flash/Disk File Storage Software for video editing, post-production, and streaming applications, as well as digital file archives; and CatDV Asset Management Software for indexing, cataloging, enriching video, audio, and image files, and workflow orchestration.