Lake Street Capital Begins Coverage on Quantum (NASDAQ:QMCO)

Equities researchers at Lake Street Capital assumed coverage on shares of Quantum (NASDAQ:QMCO) in a note issued to investors on Wednesday, MarketBeat reports. The brokerage set a “buy” rating and a $8.00 price target on the stock. Lake Street Capital’s price objective would indicate a potential upside of 53.26% from the company’s current price.

A number of other research analysts have also recently weighed in on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Quantum in a report on Monday, December 29th. Wall Street Zen upgraded Quantum from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $13.67.

Quantum Stock Down 7.8%

NASDAQ:QMCO opened at $5.22 on Wednesday. The company has a market cap of $76.42 million, a P/E ratio of -2.21 and a beta of 2.66. The firm’s 50 day moving average is $5.85 and its two-hundred day moving average is $7.76. Quantum has a fifty-two week low of $4.50 and a fifty-two week high of $16.99.

Quantum (NASDAQ:QMCO) last announced its quarterly earnings data on Tuesday, February 17th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.09. The company had revenue of $74.59 million for the quarter, compared to analysts’ expectations of $66.36 million. Quantum has set its Q4 2026 guidance at -0.430–0.230 EPS. Research analysts forecast that Quantum will post -5.5 earnings per share for the current fiscal year.

Institutional Trading of Quantum

A number of institutional investors have recently added to or reduced their stakes in QMCO. NBC Securities Inc. acquired a new stake in Quantum in the 4th quarter valued at $26,000. Bank of America Corp DE lifted its stake in shares of Quantum by 337.5% during the third quarter. Bank of America Corp DE now owns 2,896 shares of the company’s stock worth $29,000 after purchasing an additional 2,234 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of Quantum by 322.1% in the third quarter. BNP Paribas Financial Markets now owns 3,461 shares of the company’s stock worth $34,000 after buying an additional 2,641 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Quantum in the second quarter worth about $46,000. Finally, Hollencrest Capital Management grew its stake in shares of Quantum by 228.0% in the third quarter. Hollencrest Capital Management now owns 6,560 shares of the company’s stock valued at $65,000 after buying an additional 4,560 shares in the last quarter. 63.66% of the stock is owned by hedge funds and other institutional investors.

Quantum Company Profile

Quantum Corporation (NASDAQ: QMCO) is a technology company that develops and delivers data management and storage solutions for businesses and organizations worldwide. The company’s product portfolio includes hardware, software and cloud-based offerings designed to address backup, archive, primary storage and long-term retention needs. Quantum’s solutions are geared toward data-intensive environments such as media and entertainment, surveillance, government, education and healthcare, where large volumes of digital content must be reliably stored, managed and accessed.

Quantum’s flagship products include the StorNext® data management platform, which provides high-performance shared file storage and workflow acceleration, and the DXi® series of deduplication appliances, which optimize backup and recovery by reducing storage footprints and data transfer times.