Quantum Corporation (QTM) Upgraded by Zacks Investment Research to Hold

Quantum Corporation (NYSE:QTM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.

According to Zacks, “Quantum is a leading expert in scale-out storage, archive and data protection, providing solutions for capturing, sharing and preserving digital assets over the entire data lifecycle. From small businesses to major enterprises, more than 100,000 customers have trusted Quantum to address their most demanding data workflow challenges. With Quantum, customers can be certain they have the end-to-end storage foundation to maximize the value of their data by making it accessible whenever and wherever needed, retaining it indefinitely and reducing total cost and complexity. “

Several other research analysts also recently commented on QTM. Lake Street Capital decreased their price objective on Quantum Corporation from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Thursday, August 10th. BidaskClub upgraded Quantum Corporation from a “hold” rating to a “buy” rating in a report on Monday, July 31st.

Quantum Corporation (QTM) opened at 6.02 on Wednesday. Quantum Corporation has a one year low of $4.86 and a one year high of $9.20. The firm has a market cap of $207.52 million, a PE ratio of 58.45 and a beta of 2.41. The firm has a 50-day moving average price of $5.78 and a 200-day moving average price of $6.48.

Quantum Corporation (NYSE:QTM) last released its quarterly earnings data on Wednesday, August 9th. The technology company reported ($0.01) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.02). The company had revenue of $116.86 million during the quarter, compared to analysts’ expectations of $119.40 million. Quantum Corporation had a negative return on equity of 7.26% and a net margin of 0.64%. The company’s quarterly revenue was up .5% compared to the same quarter last year. On average, equities analysts expect that Quantum Corporation will post $0.47 EPS for the current fiscal year.

COPYRIGHT VIOLATION WARNING: This report was first reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this report on another publication, it was illegally copied and reposted in violation of United States and international copyright laws. The original version of this report can be viewed at https://ledgergazette.com/2017/10/11/quantum-corporation-qtm-upgraded-by-zacks-investment-research-to-hold.html.

In related news, CFO Fuad Ahmad sold 17,000 shares of the firm’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $8.46, for a total value of $143,820.00. Following the sale, the chief financial officer now directly owns 153,603 shares of the company’s stock, valued at $1,299,481.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jon W. Gacek sold 12,254 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $5.50, for a total value of $67,397.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,047 shares of company stock worth $247,076. Company insiders own 8.55% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of Quantum Corporation by 4.3% in the first quarter. Vanguard Group Inc. now owns 9,332,945 shares of the technology company’s stock worth $8,120,000 after purchasing an additional 383,871 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Quantum Corporation by 26.8% in the first quarter. Renaissance Technologies LLC now owns 8,026,252 shares of the technology company’s stock worth $6,983,000 after purchasing an additional 1,695,300 shares during the last quarter. Neuberger Berman Group LLC grew its stake in shares of Quantum Corporation by 2.0% in the first quarter. Neuberger Berman Group LLC now owns 6,033,887 shares of the technology company’s stock worth $5,249,000 after purchasing an additional 120,490 shares during the last quarter. FMR LLC grew its stake in shares of Quantum Corporation by 2.3% in the first quarter. FMR LLC now owns 3,490,385 shares of the technology company’s stock worth $3,037,000 after purchasing an additional 79,720 shares during the last quarter. Finally, Kennedy Capital Management Inc. grew its stake in shares of Quantum Corporation by 18.2% in the first quarter. Kennedy Capital Management Inc. now owns 1,982,737 shares of the technology company’s stock worth $1,725,000 after purchasing an additional 304,844 shares during the last quarter. 64.17% of the stock is currently owned by institutional investors.

Quantum Corporation Company Profile

Quantum Corporation focuses on scal

According to Zacks, “Quantum is a leading expert in scale-out storage, archive and data protection, providing solutions for capturing, sharing and preserving digital assets over the entire data lifecycle. From small businesses to major enterprises, more than 100,000 customers have trusted Quantum to address their most demanding data workflow challenges. With Quantum, customers can be certain they have the end-to-end storage foundation to maximize the value of their data by making it accessible whenever and wherever needed, retaining it indefinitely and reducing total cost and complexity. “

Several other research analysts also recently commented on QTM. Lake Street Capital decreased their price objective on Quantum Corporation from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Thursday, August 10th. BidaskClub upgraded Quantum Corporation from a “hold” rating to a “buy” rating in a report on Monday, July 31st.

Quantum Corporation (QTM) opened at 6.02 on Wednesday. Quantum Corporation has a one year low of $4.86 and a one year high of $9.20. The firm has a market cap of $207.52 million, a PE ratio of 58.45 and a beta of 2.41. The firm has a 50-day moving average price of $5.78 and a 200-day moving average price of $6.48.

Quantum Corporation (NYSE:QTM) last released its quarterly earnings data on Wednesday, August 9th. The technology company reported ($0.01) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.02). The company had revenue of $116.86 million during the quarter, compared to analysts’ expectations of $119.40 million. Quantum Corporation had a negative return on equity of 7.26% and a net margin of 0.64%. The company’s quarterly revenue was up .5% compared to the same quarter last year. On average, equities analysts expect that Quantum Corporation will post $0.47 EPS for the current fiscal year.

COPYRIGHT VIOLATION WARNING: This report was first reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this report on another publication, it was illegally copied and reposted in violation of United States and international copyright laws. The original version of this report can be viewed at https://ledgergazette.com/2017/10/11/quantum-corporation-qtm-upgraded-by-zacks-investment-research-to-hold.html.

In related news, CFO Fuad Ahmad sold 17,000 shares of the firm’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $8.46, for a total value of $143,820.00. Following the sale, the chief financial officer now directly owns 153,603 shares of the company’s stock, valued at $1,299,481.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jon W. Gacek sold 12,254 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $5.50, for a total value of $67,397.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,047 shares of company stock worth $247,076. Company insiders own 8.55% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of Quantum Corporation by 4.3% in the first quarter. Vanguard Group Inc. now owns 9,332,945 shares of the technology company’s stock worth $8,120,000 after purchasing an additional 383,871 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Quantum Corporation by 26.8% in the first quarter. Renaissance Technologies LLC now owns 8,026,252 shares of the technology company’s stock worth $6,983,000 after purchasing an additional 1,695,300 shares during the last quarter. Neuberger Berman Group LLC grew its stake in shares of Quantum Corporation by 2.0% in the first quarter. Neuberger Berman Group LLC now owns 6,033,887 shares of the technology company’s stock worth $5,249,000 after purchasing an additional 120,490 shares during the last quarter. FMR LLC grew its stake in shares of Quantum Corporation by 2.3% in the first quarter. FMR LLC now owns 3,490,385 shares of the technology company’s stock worth $3,037,000 after purchasing an additional 79,720 shares during the last quarter. Finally, Kennedy Capital Management Inc. grew its stake in shares of Quantum Corporation by 18.2% in the first quarter. Kennedy Capital Management Inc. now owns 1,982,737 shares of the technology company’s stock worth $1,725,000 after purchasing an additional 304,844 shares during the last quarter. 64.17% of the stock is currently owned by institutional investors.

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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