Quantum (NASDAQ:QMCO) Stock Price Up 10.3% – Time to Buy?

Quantum Corporation (NASDAQ:QMCO)’s stock price traded up 10.3% on Monday . The stock traded as high as $10.04 and last traded at $9.97. 2,559,560 shares traded hands during trading, an increase of 64% from the average session volume of 1,562,670 shares. The stock had previously closed at $9.04.

Analyst Upgrades and Downgrades

Separately, Ascendiant Capital Markets reiterated a “buy” rating on shares of Quantum in a report on Wednesday, June 18th.

Quantum Stock Performance

The business’s fifty day moving average price is $10.92 and its 200 day moving average price is $19.32.

Insider Activity

In other news, CEO James J. Lerner sold 2,784 shares of the firm’s stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $9.65, for a total transaction of $26,865.60. Following the completion of the transaction, the chief executive officer directly owned 110,848 shares in the company, valued at $1,069,683.20. This trade represents a 2.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Pacific Investment Management sold 962,127 shares of the company’s stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $10.25, for a total value of $9,861,801.75. The disclosure for this sale can be found here. Insiders have sold a total of 966,304 shares of company stock worth $9,902,545 over the last ninety days. Company insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in QMCO. Activest Wealth Management boosted its stake in shares of Quantum by 428,200.0% in the 1st quarter. Activest Wealth Management now owns 4,283 shares of the company’s stock valued at $62,000 after purchasing an additional 4,282 shares during the last quarter. AlphaQuest LLC acquired a new position in Quantum in the first quarter valued at $139,000. SBI Securities Co. Ltd. acquired a new position in Quantum in the fourth quarter valued at $194,000. Price T Rowe Associates Inc. MD bought a new stake in Quantum during the fourth quarter valued at $272,000. Finally, Virtu Financial LLC acquired a new stake in Quantum during the 1st quarter worth about $284,000. Institutional investors own 63.66% of the company’s stock.

Quantum Company Profile

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 Myriad All-Flash File and Object Storage Software for high performance enterprise unstructured data applications such as AI, machine learning, and data analytics; Unified Surveillance Platform Software that unified compute and storage for video surveillance recording, storage, and analytics; StorNext Hybrid Flash/Disk File Storage Software for video editing, post-production, and streaming applications, as well as digital file archives; and CatDV Asset Management Software for indexing, cataloging, enriching video, audio, and image files, and workflow orchestration.