BidaskClub upgraded shares of Quantum Corporation (NYSE:QTM) from a hold rating to a buy rating in a research report report published on Monday, July 31st.
Separately, Zacks Investment Research upgraded Quantum Corporation from a hold rating to a buy rating and set a $9.50 price objective on the stock in a report on Tuesday, July 18th.
Shares of Quantum Corporation (QTM) traded down 2.14% during mid-day trading on Monday, hitting $5.04. 364,376 shares of the company were exchanged. The company has a market capitalization of $173.74 million, a P/E ratio of 48.93 and a beta of 2.34. The company has a 50 day moving average of $7.66 and a 200 day moving average of $5.12. Quantum Corporation has a 52 week low of $0.58 and a 52 week high of $9.20.
Quantum Corporation (NYSE:QTM) last issued its earnings results on Wednesday, August 9th. The technology company reported ($0.01) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.01 by $0.02. The company had revenue of $116.86 million for the quarter, compared to analysts’ expectations of $119.40 million. Quantum Corporation had a net margin of 0.64% and a negative return on equity of 7.26%. Quantum Corporation’s quarterly revenue was up .5% compared to the same quarter last year. Equities analysts anticipate that Quantum Corporation will post $0.47 earnings per share for the current year.
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In other news, SVP Robert S. Clark sold 61,912 shares of the business’s stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $8.16, for a total value of $505,201.92. Following the transaction, the senior vice president now owns 74,703 shares of the company’s stock, valued at $609,576.48. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Fuad Ahmad sold 17,000 shares of the company’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 transaction, the chief financial officer now directly owns 153,603 shares in the company, valued at approximately $1,299,481.38. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 88,912 shares of company stock valued at $727,222. 8.55% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of the stock. Voya Investment Management LLC purchased a new stake in shares of Quantum Corporation during the second quarter valued at approximately $101,000. Royce & Associates LP acquired a new position in shares of Quantum Corporation during the second quarter worth approximately $102,000. Strs Ohio acquired a new position in shares of Quantum Corporation during the second quarter worth approximately $113,000. Bluefin Trading LLC purchased a new position in Quantum Corporation during the second quarter worth approximately $169,000. Finally, The Manufacturers Life Insurance Company increased its position in Quantum Corporation by 1,582.7% in the second quarter. The Manufacturers Life Insurance Company now owns 24,348 shares of the technology company’s stock worth $190,000 after buying an additional 22,901 shares in the last quarter.
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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