Quantum (NASDAQ:QMCO) Coverage Initiated by Analysts at Lake Street Capital

Lake Street Capital began coverage on shares of Quantum (NASDAQ:QMCO) in a report issued on Wednesday, Marketbeat reports. The firm issued a buy rating and a $8.00 price target on the stock.

Several other analysts have also issued reports on QMCO. Weiss Ratings reiterated a “sell (d-)” rating on shares of Quantum in a research report on Monday, December 29th. Wall Street Zen upgraded shares of Quantum from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $13.67.

Quantum Price Performance

Quantum stock opened at $5.66 on Wednesday. The stock has a market capitalization of $82.86 million, a PE ratio of -2.40 and a beta of 2.66. The business has a 50 day simple moving average of $5.90 and a 200-day simple moving average of $7.78. Quantum has a 12 month low of $4.50 and a 12 month high of $17.07.

Quantum (NASDAQ:QMCO) last announced its earnings results on Tuesday, February 17th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.09. The business 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. On average, equities research analysts anticipate that Quantum will post -5.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Quantum

Several institutional investors and hedge funds have recently added to or reduced their stakes in QMCO. Geode Capital Management LLC grew its holdings in shares of Quantum by 9.1% during the second quarter. Geode Capital Management LLC now owns 69,384 shares of the company’s stock worth $692,000 after buying an additional 5,806 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Quantum in the second quarter valued at approximately $1,775,000. Sassicaia Capital Advisers LLC purchased a new stake in Quantum in the 2nd quarter valued at $232,000. Raymond James Financial Inc. acquired a new stake in shares of Quantum in the 2nd quarter worth $46,000. Finally, Hollencrest Capital Management increased its stake in shares of Quantum by 228.0% in the 3rd quarter. Hollencrest Capital Management now owns 6,560 shares of the company’s stock worth $65,000 after acquiring an additional 4,560 shares during the last quarter. Institutional investors and hedge funds own 63.66% of the company’s stock.

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.