Quantum Corporation (NYSE:QTM) updated its second quarter earnings guidance on Wednesday. The company provided EPS guidance of 0.01-0.05 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.20. The company issued revenue guidance of $120-125 million, compared to the consensus revenue estimate of $137.50 million.
A number of equities research analysts recently weighed in on the company. Zacks Investment Research upgraded Quantum Corporation from a hold rating to a buy rating and set a $9.50 price target on the stock in a report on Tuesday, July 18th. BidaskClub cut Quantum Corporation from a buy rating to a hold rating in a report on Tuesday, July 25th. Finally, Lake Street Capital lowered their price target on Quantum Corporation from $12.00 to $10.00 and set a buy rating on the stock in a report on Thursday, August 10th.
Quantum Corporation (NYSE:QTM) traded down 2.14% during midday trading on Friday, reaching $5.04. The company had a trading volume of 364,376 shares. The company’s 50 day moving average is $7.58 and its 200-day moving average is $5.15. Quantum Corporation has a 52-week low of $0.58 and a 52-week high of $9.20. The company has a market capitalization of $173.74 million, a P/E ratio of 48.93 and a beta of 2.34.
Quantum Corporation (NYSE:QTM) last posted its quarterly earnings data on Wednesday, August 9th. The technology company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.01 by $0.02. Quantum Corporation had a negative return on equity of 7.26% and a net margin of 0.64%. The firm had revenue of $116.86 million for the quarter, compared to analysts’ expectations of $119.40 million. The company’s revenue for the quarter was up .5% on a year-over-year basis. Equities analysts expect that Quantum Corporation will post $0.47 earnings per share for the current fiscal year.
In other Quantum Corporation news, CFO Fuad Ahmad sold 17,000 shares of Quantum Corporation stock in a transaction on Monday, July 17th. The shares were sold at an average price of $8.46, for a total transaction of $143,820.00. Following the completion of the sale, the chief financial officer now owns 153,603 shares of the company’s stock, valued at approximately $1,299,481.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Shawn D. Hall sold 10,000 shares of Quantum Corporation stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $7.82, for a total transaction of $78,200.00. Following the sale, the vice president now directly owns 158,344 shares of the company’s stock, valued at approximately $1,238,250.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 88,912 shares of company stock worth $727,222. Corporate insiders own 8.55% of the company’s stock.
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An institutional investor recently raised its position in Quantum Corporation stock. The Manufacturers Life Insurance Company increased its position in shares of Quantum Corporation (NYSE:QTM) by 1,582.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,348 shares of the technology company’s stock after buying an additional 22,901 shares during the period. The Manufacturers Life Insurance Company owned 0.07% of Quantum Corporation worth $190,000 as of its most recent filing with the SEC.
Quantum Corporation 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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