Quantum Co. (NASDAQ:QMCO) Sees Significant Growth in Short Interest

Quantum Co. (NASDAQ:QMCO - Get Free Report) was the recipient of a large growth in short interest during the month of January. As of January 15th, there was short interest totalling 1,200,000 shares, a growth of 37.4% from the December 31st total of 873,300 shares. Approximately 32.3% of the company's stock are sold short. Based on an average daily trading volume, of 3,020,000 shares, the short-interest ratio is presently 0.4 days.

Quantum Trading Up 0.1 %

QMCO traded up $0.02 during trading on Tuesday, reaching $21.40. 563,191 shares of the company's stock were exchanged, compared to its average volume of 1,696,491. Quantum has a one year low of $2.22 and a one year high of $90.64. The firm has a fifty day moving average price of $32.40 and a two-hundred day moving average price of $14.51.

Wall Street Analyst Weigh In

Several analysts have weighed in on QMCO shares. Lake Street Capital lifted their price objective on shares of Quantum from $5.00 to $20.00 and gave the stock a "hold" rating in a research note on Wednesday, January 29th. Northland Securities upped their price objective on shares of Quantum from $5.00 to $18.00 and gave the stock a "market perform" rating in a research report on Thursday, January 30th.

Insider Buying and Selling at Quantum

In related news, CEO James J. Lerner sold 6,505 shares of Quantum stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $4.43, for a total transaction of $28,817.15. Following the completion of the sale, the chief executive officer now owns 107,491 shares of the company's stock, valued at approximately $476,185.13. The trade was a 5.71 % decrease in their position. 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 Quantum stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $35.68, for a total transaction of $71,217.28. Following the sale, the senior vice president now directly owns 27,940 shares of the company's stock, valued at $996,899.20. The trade was a 6.67 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,490 shares of company stock worth $316,162. Insiders own 3.90% of the company's stock.

Institutional Investors Weigh In On Quantum

A number of institutional investors have recently modified their holdings of QMCO. UNICOM Systems Inc. bought a new stake in shares of Quantum in the 4th quarter valued at $4,057,000. Arkadios Wealth Advisors bought a new stake in shares of Quantum in the 4th quarter valued at $466,000. Finally, Flagship Harbor Advisors LLC bought a new stake in shares of Quantum in the 4th quarter valued at $226,000. 63.66% of the stock is owned by 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.