Quantum Corporation (NYSE:QTM) released its earnings results on Wednesday. The technology company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.01 by $0.02, Morningstar.com reports. The firm had revenue of $116.86 million during the quarter, compared to analysts’ expectations of $119.40 million. Quantum Corporation had a net margin of 0.62% and a negative return on equity of 5.94%. The business’s revenue was up .5% compared to the same quarter last year. Quantum Corporation updated its Q2 guidance to 0.01-0.05 EPS.

Shares of Quantum Corporation (NYSE:QTM) traded down 22.94% during trading on Thursday, reaching $5.71. The company had a trading volume of 310,025 shares. The firm’s 50 day moving average price is $7.98 and its 200 day moving average price is $4.96. The firm has a market capitalization of $194.67 million, a P/E ratio of 52.87 and a beta of 2.34. Quantum Corporation has a 12 month low of $0.57 and a 12 month high of $9.20.

Several equities analysts have recently weighed in on the company. Zacks Investment Research downgraded Quantum Corporation from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 12th. BidaskClub upgraded Quantum Corporation from a “hold” rating to a “buy” rating in a research report on Monday, July 31st.

In related news, SVP Robert S. Clark sold 61,912 shares of the company’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 sale, the senior vice president now owns 74,703 shares of the company’s stock, valued at approximately $609,576.48. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Shawn D. Hall sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $7.82, for a total value of $78,200.00. Following the completion of the sale, the vice president now directly owns 158,344 shares in the company, valued at approximately $1,238,250.08. The disclosure for this sale can be found here. In the last 90 days, insiders sold 88,912 shares of company stock worth $727,222. Insiders own 8.55% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Royce & Associates LP bought a new stake in Quantum Corporation during the second quarter worth about $102,000. Strs Ohio bought a new stake in Quantum Corporation during the second quarter worth about $113,000. Bank of New York Mellon Corp raised its stake in Quantum Corporation by 3.2% in the first quarter. Bank of New York Mellon Corp now owns 609,341 shares of the technology company’s stock worth $529,000 after buying an additional 19,157 shares during the last quarter. Rhumbline Advisers bought a new stake in Quantum Corporation during the second quarter worth about $237,000. Finally, Nine Chapters Capital Management LLC raised its stake in Quantum Corporation by 39.2% in the first quarter. Nine Chapters Capital Management LLC now owns 157,600 shares of the technology company’s stock worth $137,000 after buying an additional 44,400 shares during the last quarter.

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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.

Earnings History for Quantum Corporation (NYSE:QTM)

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