Quantum (NASDAQ:QMCO) Issues Q1 2023 Earnings Guidance

Quantum (NASDAQ:QMCO – Get Rating) issued an update on its first quarter 2023 earnings guidance on Wednesday morning. The company provided EPS guidance of -$0.05–$0.03 for the period, compared to the consensus EPS estimate of -$0.03. The company issued revenue guidance of $91.00 million-$97.00 million, compared to the consensus revenue estimate of $93.56 million.

QMCO stock opened at $1.55 on Wednesday. The business’s 50-day moving average price is $1.88 and its two-hundred day moving average price is $3.19. Quantum has a 1-year low of $1.50 and a 1-year high of $7.81.

Several analysts have issued reports on the company. Lake Street Capital dropped their price target on Quantum from $6.00 to $4.00 and set a buy rating on the stock in a research note on Thursday, June 9th. Northland Securities dropped their price target on Quantum from $7.00 to $6.00 in a research note on Thursday, June 9th. Finally, B. Riley dropped their price target on Quantum from $4.00 to $2.75 and set a neutral rating on the stock in a research note on Thursday, June 9th.

In related news, insider Brian E. Cabrera sold 20,952 shares of the company’s stock in a transaction dated Thursday, May 5th. The stock was sold at an average price of $1.88, for a total transaction of $39,389.76. Following the sale, the insider now owns 164,048 shares in the company, valued at $308,410.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 4.20% of the company’s stock.

Several institutional investors have recently made changes to their positions in QMCO. Virtu Financial LLC bought a new stake in Quantum in the 1st quarter valued at $28,000. Renaissance Technologies LLC bought a new stake in Quantum in the 1st quarter valued at $29,000. Sei Investments Co. raised its stake in Quantum by 31.2% in the 1st quarter. Sei Investments Co. now owns 34,475 shares of the company’s stock valued at $57,000 after acquiring an additional 8,203 shares during the period. Citigroup Inc. raised its stake in Quantum by 132.5% in the 4th quarter. Citigroup Inc. now owns 15,201 shares of the company’s stock valued at $84,000 after acquiring an additional 8,662 shares during the period. Finally, Citadel Advisors LLC raised its stake in Quantum by 1,329.6% in the 3rd quarter. Citadel Advisors LLC now owns 17,127 shares of the company’s stock valued at $89,000 after acquiring an additional 15,929 shares during the period. Institutional investors own 80.07% of the company’s stock.

Quantum Company Profile (Get Rating)

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 StorNext software systems that enable high-speed ingest, editing, processing, and management of digital video and image datasets; and Scalar tape systems that provide long-term data storage facility to archive and preserve digital content for decades.

See Also