Quantum (NASDAQ:QMCO) Trading Down 8.1% – What’s Next?

Quantum Co. (NASDAQ:QMCO)’s stock price was down 8.1% during mid-day trading on Friday . The company traded as low as $14.07 and last traded at $14.15. Approximately 567,181 shares traded hands during mid-day trading, a decline of 51% from the average daily volume of 1,152,578 shares. The stock had previously closed at $15.39.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Northland Securities raised their target price on Quantum from $5.00 to $18.00 and gave the company a “market perform” rating in a research report on Thursday, January 30th. Lake Street Capital raised their price objective on shares of Quantum from $5.00 to $20.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th.

Quantum Trading Down 8.1 %

The firm has a fifty day simple moving average of $18.60 and a two-hundred day simple moving average of $17.25.

Quantum (NASDAQ:QMCO) last issued its quarterly earnings results on Wednesday, February 12th. The company reported ($0.96) EPS for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.08). On average, equities research analysts predict that Quantum Co. will post -5.5 EPS for the current year.

Insiders Place Their Bets

In related news, SVP Brian E. Cabrera sold 1,996 shares of the business’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $35.68, for a total transaction of $71,217.28. Following the sale, the senior vice president now directly owns 27,940 shares in the company, valued at approximately $996,899.20. The trade was a 6.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kenneth P. Gianella sold 1,279 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $21.53, for a total value of $27,536.87. Following the completion of the transaction, the chief financial officer now owns 32,402 shares of the company’s stock, valued at approximately $697,615.06. This represents a 3.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,208 shares of company stock worth $274,764 over the last quarter. 3.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Quantum

A number of institutional investors and hedge funds have recently modified their holdings of QMCO. SBI Securities Co. Ltd. purchased a new position in Quantum during the fourth quarter valued at approximately $194,000. Flagship Harbor Advisors LLC purchased a new position in shares of Quantum during the 4th quarter valued at $226,000. Price T Rowe Associates Inc. MD bought a new position in shares of Quantum in the fourth quarter worth $272,000. Marshall Wace LLP purchased a new stake in shares of Quantum in the fourth quarter worth $334,000. Finally, Schonfeld Strategic Advisors LLC bought a new stake in Quantum during the fourth quarter valued at $345,000. 63.66% of the stock is owned by hedge funds and other institutional investors.

About Quantum

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.