Quantum (NASDAQ:QMCO) Given “Market Perform” Rating at Northland Securities

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

Quantum Stock Performance

NASDAQ:QMCO traded down $1.32 during mid-day trading on Thursday, reaching $3.36. The stock had a trading volume of 203,094 shares, compared to its average volume of 31,724. The firm has a 50 day moving average price of $3.85 and a two-hundred day moving average price of $6.57. Quantum has a one year low of $2.22 and a one year high of $18.00.

Quantum (NASDAQ:QMCO) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($40.00) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($12.00) by ($28.00). The business had revenue of $71.34 million during the quarter, compared to analyst estimates of $72.00 million. On average, sell-side analysts predict that Quantum will post -3.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Quantum

A hedge fund recently bought a new stake in Quantum stock. Tidal Investments LLC purchased a new position in Quantum Co. (NASDAQ:QMCO) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 44,165 shares of the company’s stock, valued at approximately $26,000. 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.