Quantum Corporation (NYSE:QTM) SVP Robert S. Clark sold 61,912 shares of Quantum Corporation stock in a transaction on Monday, July 10th. The stock was sold at an average price of $8.16, for a total transaction of $505,201.92. Following the sale, the senior vice president now owns 74,703 shares in the company, valued at $609,576.48. The sale was disclosed in a document filed with the SEC, which is available through this link.

Shares of Quantum Corporation (QTM) traded up 2.67% during midday trading on Tuesday, reaching $8.45. 475,114 shares of the company traded hands. The firm has a market capitalization of $288.08 million, a P/E ratio of 78.24 and a beta of 2.33. Quantum Corporation has a 12 month low of $3.28 and a 12 month high of $9.20. The company has a 50 day moving average of $7.93 and a 200 day moving average of $3.51.

Quantum Corporation (NYSE:QTM) last posted its quarterly earnings results on Wednesday, May 10th. The technology company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.02. The firm had revenue of $120.80 million for the quarter, compared to analysts’ expectations of $122.59 million. Quantum Corporation had a net margin of 0.62% and a negative return on equity of 5.94%. The firm’s quarterly revenue was up .7% on a year-over-year basis. During the same period in the prior year, the company posted $0.02 earnings per share. On average, equities research analysts predict that Quantum Corporation will post $0.63 earnings per share for the current fiscal year.

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Separately, Zacks Investment Research upgraded shares of Quantum Corporation from a “hold” rating to a “strong-buy” rating and set a $9.25 price target on the stock in a research note on Wednesday, May 17th.

A number of hedge funds have recently bought and sold shares of QTM. Wells Fargo & Company MN boosted its stake 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 in the last quarter. Renaissance Technologies LLC boosted its stake in 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 in the last quarter. Algert Global LLC boosted its stake in Quantum Corporation by 1,767.2% in the first quarter. Algert Global LLC now owns 1,479,745 shares of the technology company’s stock valued at $1,287,000 after buying an additional 1,400,495 shares in the last quarter. Pacific Ridge Capital Partners LLC boosted its stake 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 worth $3,470,000 after buying an additional 1,342,013 shares during the period. Finally, FMR LLC boosted its stake in shares of Quantum Corporation by 42.3% in the fourth quarter. FMR LLC now owns 3,410,665 shares of the technology company’s stock worth $2,838,000 after buying an additional 1,013,532 shares during the period.

About Quantum Corporation

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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