Quantum (QTM) Upgraded to “Hold” at ValuEngine

Quantum (NYSE:QTM) was upgraded by research analysts at ValuEngine from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.

Separately, Zacks Investment Research lowered shares of Quantum from a “hold” rating to a “strong sell” rating in a research note on Thursday, December 7th.

Quantum (NYSE:QTM) traded up $0.10 on Tuesday, reaching $4.01. 490,929 shares of the company traded hands, compared to its average volume of 440,158. The company has a market cap of $135.57, a PE ratio of -16.04, a P/E/G ratio of 2.53 and a beta of 2.16. Quantum has a 1-year low of $3.42 and a 1-year high of $9.20. The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of -0.57.

A number of hedge funds have recently modified their holdings of the business. Millrace Asset Group Inc. acquired a new stake in Quantum in the 4th quarter valued at $736,000. AXA increased its stake in Quantum by 7.6% in the 4th quarter. AXA now owns 181,600 shares of the technology company’s stock valued at $1,022,000 after buying an additional 12,861 shares during the last quarter. Alliancebernstein L.P. acquired a new stake in Quantum in the 4th quarter valued at $137,000. Pacific Ridge Capital Partners LLC increased its stake in Quantum by 30.8% in the 4th quarter. Pacific Ridge Capital Partners LLC now owns 882,753 shares of the technology company’s stock valued at $4,970,000 after buying an additional 208,080 shares during the last quarter. Finally, OppenheimerFunds Inc. acquired a new stake in Quantum in the 4th quarter valued at $284,000. Hedge funds and other institutional investors own 64.49% of the company’s stock.

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About Quantum

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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