In yesterday’s Wall Street session, Quantum Corporation (NASDAQ:QMCO) shares traded at $1.17, up 8.33% from the previous session.
4 analysts cover Quantum Corporation (NASDAQ:QMCO), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $2.75 and a low of $2.00, we find $2.25. Given the previous closing price of $1.08, this indicates a potential upside of 108.33 percent. QMCO stock price is now 7.38% away from the 50-day moving average and -0.66% away from the 200-day moving average. The market capitalization of the company currently stands at $107.51M.
The stock has received a hold rating from 2 analysts and a buy rating from 2. Brokers who have rated the stock have averaged $2.33 as their price target over the next twelve months.
In other news, Lerner James J, President & CEO sold 158,893 shares of the company’s stock on Jul 10. The stock was sold for $169,698 at an average price of $1.07. Upon completion of the transaction, the President & CEO now directly owns 1,740,953 shares in the company, valued at $2.04 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jul 10, Chief Revenue Officer Hurley John sold 22,681 shares of the business’s stock. A total of $24,223 was realized by selling the stock at an average price of $1.07. This leaves the insider owning 384,181 shares of the company worth $0.45 million. Insiders disposed of 387,794 shares of company stock worth roughly $0.45 million over the past 1 year. A total of 4.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in QMCO stock. A new stake in Quantum Corporation shares was purchased by B. RILEY SECURITIES, INC. during the first quarter worth $4,475,000. SQUAREPOINT OPS LLC invested $75,000 in shares of QMCO during the first quarter. In the first quarter, JANE STREET GROUP, LLC acquired a new stake in Quantum Corporation valued at approximately $56,000. CUBIST SYSTEMATIC STRATEGIES, LLC acquired a new stake in QMCO for approximately $26,000. LIGHTHOUSE INVESTMENT PARTNERS, LLC purchased a new stake in QMCO valued at around $25,000 in the second quarter. In total, there are 91 active investors with 64.50% ownership of the company’s stock.
During the past 12 months, Quantum Corporation has had a low of $0.86 and a high of $2.00. The fifty day moving average price for QMCO is $1.0928 and a two-hundred day moving average price translates $1.1782 for the stock.
The latest earnings results from Quantum Corporation (NASDAQ: QMCO) was released for Mar, 2023. According to the Computer Hardware Company, earnings per share came in at -$0.04, inline with analysts’ expectations of -$0.04. This compares to -$0.13 EPS in the same period last year. The net profit margin was -9.30% and return on equity was 49.10% for QMCO. The company reported revenue of $105.34 million for the quarter, compared to $95.2 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 10.65 percent. For the current quarter, analysts expect QMCO to generate $97.03M in revenue.
Quantum Corporation(QMCO) 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. It also provides ActiveScale Object Storage Software that scalable and durable storage for long term data preservation and protection; DXi Backup Appliances to build backup appliances for high-speed backup and recovery and multisite data protection; and Scalar Tape Storage that secure storage for long term data archiving and offline data protection which are used by hyperscalers and enterprises. In addition, the company sells linear tape-open (LTO) a tape drives for small business data protection and archiving; and LTO media for use in tape storage systems. Further, it offers global support, managed services, customer support agreements, software subscriptions, installation, education, and consulting and training services, as well as Quantum-as-a-Service. The company sells its products through a network of distributors, value-added resellers, direct marketing resellers, original equipment manufacturers, and other suppliers, as well as directly to corporate entities and government agencies. Quantum Corporation was founded in 1980 and is headquartered in San Jose, California.
