Quantum (NASDAQ:QMCO) Trading 7.9% Higher – Should You Buy?

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

Analyst Ratings Changes

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

Quantum Stock Up 7.9 %

The stock has a 50 day simple moving average of $28.49 and a 200 day simple moving average of $15.87.

Quantum (NASDAQ:QMCO) last announced its quarterly earnings results 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). Equities research analysts predict that Quantum Co. will post -5.5 EPS for the current year.

Insider Activity

In other news, CRO Henk Jan Spanjaard sold 935 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $35.68, for a total transaction of $33,360.80. Following the completion of the transaction, the executive now directly owns 14,903 shares in the company, valued at approximately $531,739.04. The trade was a 5.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Brian E. Cabrera sold 1,996 shares of the business’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $35.68, for a total value of $71,217.28. Following the transaction, the senior vice president now owns 27,940 shares of the company’s stock, valued at $996,899.20. This trade represents a 6.67 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,208 shares of company stock valued at $274,764. 3.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Quantum

Several large investors have recently made changes to their positions in the business. Squarepoint Ops LLC bought a new position in shares of Quantum in the fourth quarter valued at $506,000. Bridgeway Capital Management LLC acquired a new position in shares of Quantum in the 4th quarter worth $444,000. Bank of America Corp DE raised its position in shares of Quantum by 125,408.3% during the fourth quarter. Bank of America Corp DE now owns 75,305 shares of the company’s stock worth $4,060,000 after purchasing an additional 75,245 shares during the period. Itau Unibanco Holding S.A. purchased a new stake in shares of Quantum during the fourth quarter valued at $3,020,000. Finally, Jane Street Group LLC acquired a new position in shares of Quantum in the 4th quarter valued at $1,812,000. 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.