Quantum Corp. (QTM) Short Interest Update
Quantum Corp. (NYSE:QTM) was the target of a significant decrease in short interest in September. As of September 30th, there was short interest totalling 2,415,285 shares, a decrease of 56.9% from the September 15th total of 5,610,092 shares. Based on an average daily volume of 1,228,314 shares, the days-to-cover ratio is presently 2.0 days. Currently, 0.9% of the company’s stock are short sold.
Shares of Quantum Corp. (NYSE:QTM) opened at 0.786 on Wednesday. The firm has a 50-day moving average price of $0.73 and a 200-day moving average price of $0.55. The company’s market cap is $211.59 million. Quantum Corp. has a 1-year low of $0.35 and a 1-year high of $1.05.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Spark Investment Management LLC raised its position in shares of Quantum Corp. by 21.2% in the second quarter. Spark Investment Management LLC now owns 634,900 shares of the company’s stock worth $266,000 after buying an additional 111,100 shares in the last quarter. Laurion Capital Management LP purchased a new position in shares of Quantum Corp. during the second quarter worth $274,000. Paloma Partners Management Co raised its position in shares of Quantum Corp. by 551.5% in the second quarter. Paloma Partners Management Co now owns 772,129 shares of the company’s stock worth $324,000 after buying an additional 653,608 shares in the last quarter. Emerald Acquisition Ltd. purchased a new position in shares of Quantum Corp. during the second quarter worth $416,000. Finally, S Squared Technology LLC purchased a new position in shares of Quantum Corp. during the second quarter worth $537,000. 50.49% of the stock is currently owned by institutional investors and hedge funds.
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A number of research firms have issued reports on QTM. Zacks Investment Research downgraded Quantum Corp. from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 28th. Roth Capital began coverage on Quantum Corp. in a report on Thursday, August 25th. They issued a “buy” rating and a $1.50 price objective for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $1.42.
Quantum Corp. 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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