Quantum Corporation (NASDAQ:QMCO) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Quantum Corporation (NASDAQ:QMCO) has received an average rating of “Moderate Buy” from the five analysts that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation and four have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $17.6667.

Several equities research analysts recently commented on QMCO shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Quantum in a research report on Friday, March 27th. Lake Street Capital reiterated a “buy” rating and issued a $20.00 price objective (up from $8.00) on shares of Quantum in a research report on Wednesday. Wall Street Zen upgraded shares of Quantum from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. Finally, Needham & Company LLC started coverage on shares of Quantum in a research report on Wednesday. They issued a “buy” rating on the stock.

Quantum Price Performance

Quantum stock opened at $12.70 on Monday. Quantum has a 52 week low of $4.19 and a 52 week high of $18.48. The firm’s 50-day simple moving average is $8.02 and its 200 day simple moving average is $7.17. The firm has a market capitalization of $185.93 million, a PE ratio of -5.38 and a beta of 2.96.

Institutional Investors Weigh In On Quantum

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in Quantum by 18.3% in the 3rd quarter. Vanguard Group Inc. now owns 303,597 shares of the company’s stock valued at $3,012,000 after purchasing an additional 46,919 shares in the last quarter. Marshall Wace LLP purchased a new position in Quantum in the 2nd quarter valued at about $1,775,000. UBS Group AG lifted its holdings in Quantum by 170.0% in the 3rd quarter. UBS Group AG now owns 162,605 shares of the company’s stock valued at $1,613,000 after purchasing an additional 102,384 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Quantum by 97.5% in the 4th quarter. Geode Capital Management LLC now owns 156,871 shares of the company’s stock valued at $1,012,000 after purchasing an additional 77,444 shares in the last quarter. Finally, State Street Corp lifted its holdings in Quantum by 231.7% in the 4th quarter. State Street Corp now owns 90,714 shares of the company’s stock valued at $585,000 after purchasing an additional 63,367 shares in the last quarter. 63.66% of the stock is currently owned by hedge funds and other institutional investors.

About Quantum

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.