Quantum (NASDAQ:QMCO) Stock Price Up 7.9% – Should You Buy?

Quantum Co. (NASDAQ:QMCO)’s share price rose 7.9% during mid-day trading on Wednesday . The company traded as high as $12.60 and last traded at $12.42. Approximately 482,440 shares traded hands during mid-day trading, a decline of 52% from the average daily volume of 997,117 shares. The stock had previously closed at $11.51.

Analyst Ratings Changes

QMCO has been the subject of several research analyst reports. Lake Street Capital upped their price target on shares of Quantum from $5.00 to $20.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. Northland Securities lifted their target price on Quantum from $5.00 to $18.00 and gave the company a “market perform” rating in a report on Thursday, January 30th.

Quantum Price Performance

The company’s fifty day moving average is $28.49 and its 200 day moving average is $15.87.

Quantum (NASDAQ:QMCO) last released its quarterly earnings data on Wednesday, February 12th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.88) by ($0.08). As a group, equities analysts expect that Quantum Co. will post -5.5 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO James J. Lerner sold 2,511 shares of Quantum stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $35.68, for a total transaction of $89,592.48. Following the sale, the chief executive officer now owns 107,804 shares in the company, valued at $3,846,446.72. This trade represents a 2.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Kenneth P. Gianella sold 1,279 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $21.53, for a total transaction of $27,536.87. Following the transaction, the chief financial officer now directly owns 32,402 shares in the company, valued at approximately $697,615.06. The trade was a 3.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,208 shares of company stock worth $274,764 over the last quarter. 3.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Quantum

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Arkadios Wealth Advisors purchased a new stake in shares of Quantum during the fourth quarter worth about $466,000. Flagship Harbor Advisors LLC purchased a new stake in Quantum during the 4th quarter worth approximately $226,000. UNICOM Systems Inc. purchased a new stake in Quantum during the 4th quarter worth approximately $4,057,000. SBI Securities Co. Ltd. acquired a new position in shares of Quantum in the 4th quarter valued at approximately $194,000. Finally, LPL Financial LLC purchased a new position in shares of Quantum during the 4th quarter valued at approximately $397,000. 63.66% of the stock is owned by hedge funds and other institutional investors.

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.