Quantum (NASDAQ:QMCO) Shares Down 8.1% - Here's Why

Quantum Co. (NASDAQ:QMCO - Get Free Report) traded down 8.1% on Friday . The company traded as low as $14.07 and last traded at $14.15. 567,181 shares were traded during mid-day trading, a decline of 51% from the average session volume of 1,152,578 shares. The stock had previously closed at $15.39.

Wall Street Analyst Weigh In

A number of research firms have commented on QMCO. Northland Securities upped their price objective on shares of Quantum from $5.00 to $18.00 and gave the company a "market perform" rating in a research note on Thursday, January 30th. Lake Street Capital boosted their target price on shares of Quantum from $5.00 to $20.00 and gave the company a "hold" rating in a research note on Wednesday, January 29th.

Quantum Stock Down 0.6 %

The firm's 50-day simple moving average is $18.23 and its 200-day simple moving average is $17.43.

Quantum (NASDAQ:QMCO - Get Free Report) last issued 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). Sell-side analysts predict that Quantum Co. will post -5.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Kenneth P. Gianella sold 1,279 shares of Quantum stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $21.53, for a total transaction of $27,536.87. Following the transaction, the chief financial officer now directly owns 32,402 shares of the company's stock, valued at $697,615.06. This trade represents a 3.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CRO Henk Jan Spanjaard sold 935 shares of the company's stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $35.68, for a total transaction of $33,360.80. Following the completion of the sale, the executive now owns 14,903 shares of the company's stock, valued at approximately $531,739.04. This represents a 5.90 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,208 shares of company stock valued at $274,764. Company insiders own 3.90% of the company's stock.

Institutional Trading of Quantum

Large investors have recently bought and sold shares of the business. SBI Securities Co. Ltd. acquired a new position in Quantum during the 4th quarter worth approximately $194,000. Flagship Harbor Advisors LLC acquired a new position in Quantum during the fourth quarter worth approximately $226,000. Price T Rowe Associates Inc. MD bought a new stake in Quantum in the 4th quarter valued at $272,000. Marshall Wace LLP acquired a new stake in Quantum during the 4th quarter valued at $334,000. Finally, Schonfeld Strategic Advisors LLC bought a new position in Quantum during the fourth quarter worth $345,000. 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.