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

Quantum Co. (NASDAQ:QMCO) was the recipient of a significant increase in short interest during the month of January. As of January 15th, there was short interest totalling 1,200,000 shares, an increase of 37.4% from the December 31st total of 873,300 shares. Currently, 32.3% of the shares of the company are short sold. Based on an average trading volume of 3,020,000 shares, the days-to-cover ratio is currently 0.4 days.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on QMCO. Lake Street Capital increased their target price on Quantum from $5.00 to $20.00 and gave the stock a “hold” rating in a research report on Wednesday. Northland Securities increased their price objective on Quantum from $5.00 to $18.00 and gave the stock a “market perform” rating in a report on Thursday.

Quantum Trading Down 0.2 %

NASDAQ QMCO opened at $22.40 on Friday. The company’s 50 day simple moving average is $32.41 and its two-hundred day simple moving average is $14.33. Quantum has a 1 year low of $2.22 and a 1 year high of $90.64.

Insider Buying and Selling at Quantum

In related news, CEO James J. Lerner sold 2,511 shares of the business’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $35.68, for a total value of $89,592.48. Following the sale, the chief executive officer now directly owns 107,804 shares in the company, valued at approximately $3,846,446.72. The trade was a 2.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Brian E. Cabrera sold 1,996 shares of the 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 transaction, the senior vice president now owns 27,940 shares of the company’s stock, valued at $996,899.20. This represents a 6.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,490 shares of company stock worth $316,162 over the last three months. 3.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Quantum

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Arkadios Wealth Advisors bought a new stake in Quantum during the fourth quarter valued at approximately $466,000. Flagship Harbor Advisors LLC purchased a new stake in shares of Quantum during the 4th quarter valued at $226,000. Finally, UNICOM Systems Inc. bought a new stake in shares of Quantum during the 4th quarter worth $4,057,000. Hedge funds and other institutional investors own 63.66% of the company’s stock.

About Quantum

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.