Quantum (NASDAQ:QMCO) Trading Down 8.1% – Time to Sell?

Quantum Co. (NASDAQ:QMCO)’s share price dropped 8.1% during trading on Friday . The stock traded as low as $14.07 and last traded at $14.15. Approximately 567,181 shares changed hands during mid-day trading, a decline of 51% from the average daily volume of 1,152,578 shares. The stock had previously closed at $15.39.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Lake Street Capital raised their price objective on shares of Quantum from $5.00 to $20.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. Northland Securities raised their price target 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.

Quantum Trading Down 8.1 %

The firm’s 50-day moving average price is $18.60 and its 200 day moving average price is $17.25.

Quantum (NASDAQ:QMCO) last posted its quarterly earnings results on Wednesday, February 12th. The company reported ($0.96) earnings per share for the quarter, missing the consensus estimate of ($0.88) by ($0.08). Research analysts expect that Quantum Co. will post -5.5 earnings per share for the current year.

Insiders Place Their Bets

In other Quantum news, CRO Henk Jan Spanjaard sold 935 shares of the firm’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $35.68, for a total value of $33,360.80. Following the transaction, the executive now directly owns 14,903 shares of the company’s stock, valued at approximately $531,739.04. This trade represents a 5.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kenneth P. Gianella sold 1,487 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 transaction of $53,056.16. Following the sale, the chief financial officer now directly owns 33,681 shares of the company’s stock, valued at approximately $1,201,738.08. The trade was a 4.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,208 shares of company stock worth $274,764. Corporate insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. UNICOM Systems Inc. bought a new stake in Quantum during the fourth quarter worth $4,057,000. Arkadios Wealth Advisors purchased a new stake in shares of Quantum in the fourth quarter valued at about $466,000. SBI Securities Co. Ltd. bought a new position in shares of Quantum during the fourth quarter valued at about $194,000. Flagship Harbor Advisors LLC purchased a new position in Quantum during the fourth quarter worth about $226,000. Finally, Jane Street Group LLC purchased a new position in Quantum during the fourth quarter worth about $1,812,000. Institutional investors own 63.66% of the company’s stock.

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.