Quantum Corp. (NYSE:QTM) issued an update on its second quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of breakeven for the period, compared to the Thomson Reuters consensus estimate of $0.00. The company issued revenue guidance of $132-134 million, compared to the consensus revenue estimate of $119.94 million.
Shares of Quantum Corp. (NYSE:QTM) traded up 7.5978% during midday trading on Thursday, reaching $0.7619. The company had a trading volume of 2,540,277 shares. The firm’s market capitalization is $205.10 million. Quantum Corp. has a 52 week low of $0.35 and a 52 week high of $1.05. The stock has a 50-day moving average of $0.69 and a 200 day moving average of $0.54.
A number of equities research analysts have commented on QTM shares. Zacks Investment Research raised Quantum Corp. from a hold rating to a buy rating and set a $0.50 price target on the stock in a report on Wednesday, July 20th. Roth Capital assumed coverage on Quantum Corp. in a report on Thursday, August 25th. They issued a buy rating and a $1.50 target price on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. Quantum Corp. has an average rating of Hold and an average target price of $1.42.
Large investors have recently modified their holdings of the company. Spark Investment Management LLC raised its position in Quantum Corp. by 21.2% in the second quarter. Spark Investment Management LLC now owns 634,900 shares of the company’s stock valued at $266,000 after buying an additional 111,100 shares in the last quarter. Laurion Capital Management LP acquired a new position in shares of Quantum Corp. during the second quarter valued at about $274,000. Paloma Partners Management Co raised its position in shares of Quantum Corp. by 551.5% in the second quarter. Paloma Partners Management Co now owns 772,129 shares of the company’s stock valued at $324,000 after buying an additional 653,608 shares during the period. S Squared Technology LLC acquired a new position in shares of Quantum Corp. during the second quarter valued at about $537,000. Finally, Vanguard Group Inc. raised its position in shares of Quantum Corp. by 0.8% in the second quarter. Vanguard Group Inc. now owns 8,482,427 shares of the company’s stock valued at $3,562,000 after buying an additional 66,958 shares during the period. 50.49% of the stock is currently owned by hedge funds and other institutional investors.
Quantum Corp. Company Profile
Quantum Corporation focuses on scale-out storage, archive and data protection, providing solutions for capturing, sharing, managing and preserving digital assets over the entire data lifecycle. The Company’s end-to-end tiered storage solutions enable users to maximize the value of their data by making it accessible whenever and wherever needed, retaining it indefinitely and reducing total cost and complexity.
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