Quantum Co. (NASDAQ:QMCO) Sees Large Increase in Short Interest

Quantum Co. (NASDAQ:QMCOGet Rating) was the target of a significant growth in short interest in March. As of March 31st, there was short interest totalling 2,920,000 shares, a growth of 27.0% from the March 15th total of 2,300,000 shares. Approximately 5.4% of the shares of the stock are sold short. Based on an average trading volume of 643,800 shares, the short-interest ratio is currently 4.5 days.

QMCO stock traded up $0.02 on Monday, hitting $2.26. 10,353 shares of the company’s stock traded hands, compared to its average volume of 611,939. Quantum has a 1-year low of $2.11 and a 1-year high of $9.38. The stock has a market cap of $135.86 million, a price-to-earnings ratio of -2.96 and a beta of 2.30. The stock has a fifty day moving average of $2.59 and a 200-day moving average of $4.50.

Quantum (NASDAQ:QMCOGet Rating) last issued its quarterly earnings results on Wednesday, February 9th. The company reported ($0.15) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.10). The company had revenue of $95.34 million for the quarter, compared to analyst estimates of $104.02 million. During the same period in the previous year, the business posted ($0.07) EPS. On average, equities analysts expect that Quantum will post -0.33 EPS for the current year.

Several large investors have recently modified their holdings of QMCO. Citigroup Inc. lifted its position in shares of Quantum by 115.5% in the 3rd quarter. Citigroup Inc. now owns 6,539 shares of the company’s stock valued at $34,000 after acquiring an additional 3,504 shares in the last quarter. Nisa Investment Advisors LLC purchased a new stake in shares of Quantum in the 4th quarter valued at approximately $37,000. Diversified Trust Co purchased a new stake in shares of Quantum in the 4th quarter valued at approximately $63,000. ProShare Advisors LLC purchased a new stake in shares of Quantum in the 4th quarter valued at approximately $70,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Quantum in the 4th quarter valued at approximately $73,000. Institutional investors and hedge funds own 69.15% of the company’s stock.

Several research analysts have recently issued reports on QMCO shares. Northland Securities decreased their price objective on shares of Quantum from $10.00 to $7.00 and set an “outperform” rating for the company in a report on Monday, March 21st. Lake Street Capital cut their target price on shares of Quantum from $9.00 to $6.00 in a research note on Thursday, February 10th. Zacks Investment Research lowered shares of Quantum from a “hold” rating to a “sell” rating in a research note on Wednesday, February 9th. B. Riley lowered shares of Quantum from a “buy” rating to a “neutral” rating and set a $4.00 target price for the company. in a research note on Thursday, February 10th. Finally, Oppenheimer lowered shares of Quantum from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 10th.

About Quantum (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.

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