Northland Securities Raises Quantum (NASDAQ:QMCO) Price Target to $18.00

Quantum (NASDAQ:QMCO) had its price target raised by equities research analysts at Northland Securities from $5.00 to $18.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “market perform” rating on the stock. Northland Securities’ price target would suggest a potential downside of 19.64% from the stock’s previous close.

Separately, Lake Street Capital lifted their price target on Quantum from $5.00 to $20.00 and gave the stock a “hold” rating in a research report on Wednesday.

Quantum Price Performance

Shares of QMCO opened at $22.40 on Thursday. The firm has a fifty day moving average price of $32.41 and a 200 day moving average price of $14.33. Quantum has a 1-year low of $2.22 and a 1-year high of $90.64.

Insider Activity

In related news, CEO James J. Lerner sold 6,505 shares of Quantum stock in a transaction on Friday, November 8th. The shares were sold at an average price of $4.43, for a total value of $28,817.15. Following the transaction, the chief executive officer now directly owns 107,491 shares in the company, valued at $476,185.13. This trade represents a 5.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Brian E. Cabrera sold 1,996 shares of the company’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $35.68, for a total transaction of $71,217.28. Following the transaction, the senior vice president now owns 27,940 shares of the company’s stock, valued at approximately $996,899.20. The trade was a 6.67 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,490 shares of company stock valued at $316,162. Insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On Quantum

A number of institutional investors have recently added to or reduced their stakes in the business. UNICOM Systems Inc. acquired a new stake in shares of Quantum in the 4th quarter valued at approximately $4,057,000. Flagship Harbor Advisors LLC acquired a new stake in Quantum in the fourth quarter valued at $226,000. Finally, Arkadios Wealth Advisors purchased a new stake in shares of Quantum during the 4th quarter worth $466,000. Hedge funds and other institutional investors own 63.66% of the company’s stock.

About Quantum

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.