Quantum Corporation (NYSE:QTM) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Monday.
Separately, Zacks Investment Research lowered Quantum Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 20th.
Shares of Quantum Corporation (QTM) traded down 1.70% during midday trading on Monday, reaching $8.10. The company had a trading volume of 150,676 shares. The firm’s 50 day moving average price is $7.90 and its 200-day moving average price is $4.66. The stock has a market capitalization of $276.15 million, a price-to-earnings ratio of 75.00 and a beta of 2.33. Quantum Corporation has a 1-year low of $4.48 and a 1-year high of $9.20.
Quantum Corporation (NYSE:QTM) last issued its earnings results on Wednesday, May 10th. The technology company reported $0.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.02. The business had revenue of $120.80 million during the quarter, compared to analyst estimates of $122.59 million. Quantum Corporation had a negative return on equity of 5.94% and a net margin of 0.62%. Quantum Corporation’s revenue was up .7% on a year-over-year basis. During the same period in the previous year, the company posted $0.02 EPS. Equities research analysts expect that Quantum Corporation will post $0.63 EPS for the current fiscal year.
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In other news, CFO Fuad Ahmad sold 17,000 shares of the business’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of $8.46, for a total value of $143,820.00. Following the completion of the transaction, the chief financial officer now directly owns 153,603 shares of the company’s stock, valued at approximately $1,299,481.38. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Shawn D. Hall sold 10,000 shares of the business’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $7.82, for a total value of $78,200.00. Following the completion of the transaction, the vice president now directly owns 158,344 shares of the company’s stock, valued at $1,238,250.08. The disclosure for this sale can be found here. Over the last three months, insiders sold 88,912 shares of company stock valued at $727,222. Corporate insiders own 8.55% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN raised its position in Quantum Corporation by 86.0% in the first quarter. Wells Fargo & Company MN now owns 14,238,193 shares of the technology company’s stock valued at $12,387,000 after buying an additional 6,584,382 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Quantum Corporation by 4.3% in the first quarter. Vanguard Group Inc. now owns 9,332,945 shares of the technology company’s stock valued at $8,120,000 after buying an additional 383,871 shares during the period. Renaissance Technologies LLC increased its position in shares of Quantum Corporation by 26.8% in the first quarter. Renaissance Technologies LLC now owns 8,026,252 shares of the technology company’s stock valued at $6,983,000 after buying an additional 1,695,300 shares during the period. Neuberger Berman Group LLC increased its position in shares of Quantum Corporation by 2.0% in the first quarter. Neuberger Berman Group LLC now owns 6,033,887 shares of the technology company’s stock valued at $5,249,000 after buying an additional 120,490 shares during the period. Finally, Pacific Ridge Capital Partners LLC increased its position in shares of Quantum Corporation by 50.7% in the first quarter. Pacific Ridge Capital Partners LLC now owns 3,988,157 shares of the technology company’s stock valued at $3,470,000 after buying an additional 1,342,013 shares during the period.
Quantum Corporation Company Profile
Quantum Corporation focuses on scale-out storage, archive and data protection, providing solutions for capturing, sharing, managing and preserving digital assets over the entire data lifecycle. The Company’s end-to-end tiered storage solutions enable users to maximize the value of their data by making it accessible whenever and wherever needed, retaining it indefinitely and reducing total cost and complexity.
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