Northland Securities Reaffirms Market Perform Rating for Quantum (NASDAQ:QMCO)

Quantum (NASDAQ:QMCO)‘s stock had its “market perform” rating restated by analysts at Northland Securities in a report issued on Thursday,Benzinga reports. They currently have a $5.00 target price on the stock, up from their previous target price of $0.25. Northland Securities’ price objective points to a potential upside of 48.81% from the company’s current price.

Quantum Stock Performance

Quantum stock traded down $1.32 during midday trading on Thursday, reaching $3.36. The company’s stock had a trading volume of 203,094 shares, compared to its average volume of 31,724. Quantum has a 52 week low of $2.22 and a 52 week high of $18.00. The business has a 50-day moving average price of $3.85 and a 200-day moving average price of $6.57.

Quantum (NASDAQ:QMCO) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($40.00) EPS for the quarter, missing the consensus estimate of ($12.00) by ($28.00). The company had revenue of $71.34 million for the quarter, compared to analyst estimates of $72.00 million. As a group, analysts expect that Quantum will post -3.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Quantum

An institutional investor recently bought a new position in Quantum stock. Tidal Investments LLC acquired a new stake in Quantum Co. (NASDAQ:QMCO) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 44,165 shares of the company’s stock, valued at approximately $26,000. 63.66% of the stock is owned by institutional investors and hedge funds.

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.