Quantum (NASDAQ:QMCO) Earns Market Perform Rating from Oppenheimer

Oppenheimer restated their market perform rating on shares of Quantum (NASDAQ:QMCO) in a research report sent to investors on Wednesday, Benzinga reports.

Quantum Stock Down 7.7 %

Quantum stock opened at $0.40 on Wednesday. Quantum has a 52 week low of $0.24 and a 52 week high of $1.32. The business has a 50-day simple moving average of $0.53 and a 200 day simple moving average of $0.44. The stock has a market cap of $38.02 million, a price-to-earnings ratio of -0.98 and a beta of 2.55.

Institutional Investors Weigh In On Quantum

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Quantum by 40.8% during the third quarter. Vanguard Group Inc. now owns 3,958,849 shares of the company’s stock worth $4,276,000 after purchasing an additional 1,148,156 shares during the last quarter. BlackRock Inc. lifted its stake in Quantum by 3.3% during the second quarter. BlackRock Inc. now owns 1,042,225 shares of the company’s stock worth $1,126,000 after purchasing an additional 33,704 shares during the last quarter. Geode Capital Management LLC lifted its stake in Quantum by 1.8% during the first quarter. Geode Capital Management LLC now owns 994,641 shares of the company’s stock worth $1,144,000 after purchasing an additional 17,500 shares during the last quarter. Millennium Management LLC bought a new stake in Quantum during the second quarter worth about $1,331,000. Finally, State Street Corp lifted its stake in Quantum by 7.9% during the first quarter. State Street Corp now owns 874,452 shares of the company’s stock worth $1,985,000 after purchasing an additional 64,208 shares during the last quarter. 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.